Africa-based consumers are amongst those interested in new biometric-based payment methods from Mastercard, a recent report has found.
The company’s New Payment Index – which was based on online interviews of over 10,000 global consumers in 18 different countries, with 1,000 respondents per country – indicated that 96% of Nigerians were eager to try the new payment methods, which include digital wallets, QR codes and contactless technologies.
Additionally, The Guardian has reported that these numbers were even higher in Kenya, with 99% claiming that they will use an emerging payment method in the next year. These figures are similar in the Middle East.
One of the most significant findings from the study, yet one which is perhaps least surprising, is that interest in such payments grew rapidly as a direct result of the COVID-19 pandemic; just under 70% of Nigerian respondents used alternative payment methods during the last 12 months.
Commenting on Mastercard’s New Payment Index, Craig Vosburg, Chief Product Officer at Mastercard, remarked: “The pandemic made us think differently, partly out of necessity. To deliver the choice and flexibility that consumers need – and increasingly expect – retailers worldwide need to offer a range of payment solutions that are easy to access and always on.
“As we look ahead, we need to continue to enable all choices, both in-store and online, to shape the fabric of commerce and make the digital economy work for everyone.”