Latest News  

Romanians buy 10 times more with contactless cards – Vladimirescu, MasterCard

In 2015, the contactless expenditure through MasterCard and Maestro cards in Romania has grown tenfold, year-on-year, says Cosmin Vladimirescu, general manager, MasterCard, Romania.

2016-03-04 11:51:18 - by Bogdan Tudorache

The number of MasterCard and Maestro contactless transactions in Romania were on the rise by a spectacular 636%, year-on-year, while the total contactless expenditure in Romania through MasterCard processed transactions have increased tenfold in 2015 compared to 2014.

"In 2015, Romanians have increased tenfold their contactless expenditure through MasterCard and Maestro cards, by comparison to 2014, thereby showing that this payment method is rapidly becoming a part of the consumer's shopping routine. Furthermore, the drive toward contactless is evident given that the number of contactless transactions has grown by more than 600% year-on-year."

The average ticket of a contactless transaction in Romania stood at some 60 RON last year. By comparison, the average value of a card transaction in Romania stands at about 145 RON, according to the Central Bank's data. This underlines the fact that contactless payments are slowly becoming the consumers' preferred for their daily purchases. The shift to contactless is even more evident when taking into consideration the number of MasterCard or Maestro contactless active cards, which has grown sixfold when compared to 2014.

"The contactless payments' rise in popularity shows an increasing number of consumers tend to opt for the speed, security and convenience deriving from utilizing this technology on a daily basis. Romania has one of the largest growth rates in Central and Eastern Europe in terms of contactless transactions does not only point to the potential for developing this segment, it also shows an acceleration in reducing the gap between ourselves and more developed markets, where the contactless payment method is, indeed, a normal gesture" says Vladimirescu.

Europeans continue to opt for contactless technology when making payments, with the total number of MasterCard and Maestro processed transactions passing the 1 billion mark in 2015 – an increase of 150% from 2014. Already in Europe, on average, 13% of in-store transactions processed by MasterCard in Q4 2015 were contactless.

New data reveal the number of cards, mobile phones or other devices tapping soared by 121%, and the total MasterCard and Maestro spend on contactless transactions was up by 183% year on year. Data also shows the number of contactless cards and devices issued to consumers increased by 50% in 2015.

"Europeans are really embracing this, tapping for more of their MasterCard purchases than ever before, which in turn helps drive revenue for merchants and issuers. Across Central Eastern Europe, there is clear evidence of this. In Czech Republic, 77% (almost 4 in 5) of in-store transactions processed by MasterCard were contactless in 2015. In Poland, the figure was 55% (over half), 40% in Hungary (4 in 10), 38% in Slovakia (more than 1 in 3)," also says George Simon, Division President Central Eastern Europe at MasterCard Europe.

But these aren't the only factors driving this trend. Contactless payments offer a safer alternative to cash, providing consumers with the added benefit of state-of-the-art multi-layered security protection. With increased usage, comes familiarity and reassurance; more than two thirds of consumers now believe contactless technology is just as safe or more secure than traditional forms of payment.

In Europe alone, there are already over 10 countries with over 5 million contactless cards or devices in circulation for each of them. These are accepted in 74 countries around the world, including Estonia and Iceland, which have recently been added to Europe's contactless map.

Merchants have also followed suit, with 2015 showing an impressive 72% increase in the number of contactless merchant locations compared to 2014. In fact, MasterCard estimates that MasterCard or Maestro contactless cards or devices can now be used at over 4 million merchant locations worldwide.




0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
US company Visteon looks for software developers at Timisoara

Visteon, automotive supplier focused exclusively on cockpit electronics, it is setting up a new product development center in Timisoara, Romania. The company plans to build a team of 400 employees in Romania,

 Read Full article »
Gabriela Mechea takes over the helm of ANIS

The Software and Services Industry Employers Association ANIS appointed Gabriela Mechea as the organizations' executive director, replacing Valerica Dragomir who left the association after 17 years.

 Read Full article »
Poll: 2018 was hard for recruiting – 29 Interviews to one hire

Nearly nine out of ten companies had a tougher time finding suitable employees in 2018 compared with previous years, interviewing an average 29 candidates before hiring one person, a poll by HappyRecruiter show

 Read Full article »
CBRE maintains its market leader ranking with 24 per cent market share on the Bucharest-based office segment

In 2018, CBRE, the real estate consultant managed 24 per cent of the Bucharest-based office market, according to a release of the company.

 Read Full article »
Philippe Beucher takes a new opportunity outside Capgemini

After 5 years spent in Capgemini, Philippe Beucher, the Romanian company's branch CEO announced he decided to take another opportunity outside of the Group as of January 15th.

 Read Full article »
Amazon expands at Iasi with 5000 sqm of offices

At the end of 2020, the American company Amazon will rent an additional 5.000 sqm office spaces at Iasi, to amount over 18.000 sqm office space in Romania, according to sources in the real estate market and quo

 Read Full article »
Accelerator programme Legal Tech Hub Vienna to offer support for legal tech companies

The law firms Dorda, Eisenberger & Herzog, Herbst Kinsky, PHH, Schoenherr, SCWP Schindhelm and Wolf Theiss, today launched the Legal Tech Hub Vienna (LTH Vienna). The unique initiative, that brings together sev

 Read Full article »
Fusion and purchase market in Romania close to 2 billion euro in 2018

The fusion and purchase market in Romania came close to two billion Euro in 2018, according to an analysis made by Deloitte Romania, based on public sources and transactions made public.

 Read Full article »
DXC Technology to Acquire Leading Digital Innovator Luxoft

End-to-end IT services and solutions developer DXC Technology and Luxoft Holding announced a definitive agreement for DXC to acquire Luxoft, a global-scale digital innovator with differentiated offerings, deep

 Read Full article »
KPMG study: Big data needs a big re-think: consumers are more anxious, but businesses can restore trust with greater transparency

Global KPMG study of 25,000 consumers reveals that we are embracing new technology, but are concerned about the types of data held by businesses.

 Read Full article »
 
 
MOST READ ARTICLES
» The most appreciated companies from th...
» TELUS International Europe awarded Mos...
» Deloitte's Tech Trends 2019 report: B...
» Academic efforts to grow the employee ...
» Deloitte: Leadership disrupted: Pushin...
» Endava expands its IT team in Republic...
» Genpact named leader in global banking...
» Centric to double Iasi opps, leases 1,...
» Deloitte: Anxious millennials seek sta...
» Oracle reaches 4,200 employees and pla...
 
EDITOR CHOICE
Deloitte's Tech Trends 2019 report: Beyond the digital frontier

The recently released Deloitte's Tech Trends 2019: Beyond the digital frontier, as each Tech Trends report in the series conducted by the consultancy company, lobbies for embracing the increasing, often mind-b

 Read Full article »
KPMG study: Big data needs a big re-think: consumers are more anxious, but businesses can restore trust with greater transparency

Global KPMG study of 25,000 consumers reveals that we are embracing new technology, but are concerned about the types of data held by businesses.

 Read Full article »
Manpower: Romania's labor market, more prudent in the first quarter of 2019

More than two thirds (70 per cent) of employers in Romania anticipate no changes in the size of their payrolls in the first quarter (Q1) of 2019, the largest percentage in over two years, and this suggests the

 Read Full article »
Noni Jain, Wipro Europe: It is fundamental how you coach the employees and prepare them for the next level of an evolving organization

How do you attract and retain a globally-mobile workforce? What technologies do you need in your arsenal to get the most from the tech-savvy "Generation Y"? To drive innovation and attract and retain top talent

 Read Full article »
Ascentis: The top ten HR trends for 2019

Ascentis, specializing in in integrated Human Capital Management software published the main HR trends for 2019, findings resulted from the work together with their workforce and leadership strategist Eric Swen

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area | GDPR policy
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events