The popularity of foreign card shopping is growing

According to MasterCard’s latest survey of European consumers, we rely more on our credit card when traveling abroad than we do on weekdays. This is because 91% of the responding cardholders keep the plastic card with them during the holidays, while in other cases only 60% do the same. But plastic is not just a security option abroad: 53% of those surveyed prefer to pay by card rather than cash during their leave.

The primary reason for this is that plastics allow for a more convenient payment (65%), but many are also afraid of stealing cash (41%). The fact that 34% are quicker to pay by card than cash, and better traceability of spending is important to a third of those surveyed. In addition, 44% of respondents are convinced that due to rapid technological development, cash will soon become a fad. Surprisingly, 50% of European consumers still believe that cash is the cheapest way to pay, even though everyone pays for the production, transport and protection of cash. For example: in Germany, this cost is 150 euros (ie about 44100 forints) per year for each citizen.

Time is precious when we vacation. This is why 51% of people think that looking for an ATM would be a waste of time, preferring to spend time relaxing on the beach or admiring the sights of a city. Therefore, 29% of respondents often feel uncomfortable when unable to pay by card. There are also lower expenses during the holiday, which responding European consumers continue to pay more in cash during the trip. Such is the case when buying a postcard (85%), ice cream or food (84%), a taxi (77%), souvenirs (61%), or giving a tip to the waiter (83%).

According to Jennifer Rademaker, Head of Product Development at MasterCard, “A cashless lifestyle makes our everyday lives easier. European users can clearly see the benefits of electronic payment during the holidays and want to use this payment method more and more often. For this reason, we decided to launch our “Cashless Summer” program in Europe and invite cardholders to a cashless payment competition. Contestants can use traditional means of payment as little as possible - this includes small purchases. In the coming weeks, they can share pictures, videos and messages on our new Tumblr blog about how they see the cashless world and its benefits. There is no doubt that this will open the eyes of users and entertain them at the same time. ”