Cash continues to be the first payment option for Spanish consumers, according to the «I Index of Cashless Cities of Mastercard» prepared by Alpha Research for Mastercard Spain and in which the behavior of Spaniards in relation to digital payments in activities such as transport, commerce, catering or administration is analyzed. Behind still, there are alternatives such as contactless cards that say they know 91% of the users surveyed, of which 76.5% say that this option will grow a lot in the medium and long term.
Also mentioned are other alternatives that still do not enjoy great popularity, but that will grow in the future. In this sense, the 51.5% of the participants in the study they have stated that they will increase their payments a lot or a lot through mobile applications, warables (45.5%) or virtual cards (37%).
In the opinion of Paloma Real, general director of Mastercard Spain, "the data from the I Index of Cashless Cities confirm a change in the habits of Spaniards: We pay more with card and other digital solutions that allows contactless technology like mobile or warables ».
The uniqueness of Madrid
The study involved 3,000 people from ten Spanish cities (Madrid, Barcelona, Valencia, Bilbao, Seville, Murcia, Vigo, Palma de Mallorca, Zaragoza and Malaga). In the same has been concluded that the people of Madrid are those who use payment methods other than cash. AND77.7% of respondents from Madrid opt for digital payment options, compared to 22.3% who still prefer cash. These alternatives include credit or debit cards with and without contact (43.7% in the first case and 28.7% in the second). This percentage acquires even more advantage if it is added to those who opt for mobile payment (1.7%).
In any case, have highlighted the authors of the study, Madrid is also the city where its inhabitants prefer to make payments through mobile app, being the preferred option for almost the 1.7% of respondents, well above the data of the rest of cities.
In this line, 65% of the respondents have recognized that is not aware of all available payment options, being contactless cards (92%), mobile payment (79%), and electronic commerce (78%) the most popular, ahead of digital wallets (34%) or wearables (28%) ).
Despite preferring electronic payment methods, the people of Madrid have recognized that It is not always possible to pay in this way. Although most believe that establishments such as supermarkets (according to 99%), restaurants (97.7%), or cinemas and theaters (93.7%) allow payment without cash, that percentage is slightly reduced in the retail stores (74.3%) and bars (65%), and it is more limited when it comes to paying low-value goods (23.7%) or in vending machines (25.7%).
No cash in restaurants, cinemas or stores
In practice, Madrileños pay more usually without cash in restaurants (53.2%), cinemas and theaters (79.3%) and stores (55.8%), and they opt to a greater extent for money in cash when it comes to bars (76.7%) or vending machines (87.3%). When it comes to moving around Madrid, there is a perception that it is possible pay without cash in the taxi or the subway (according to 81% and 80.3% of the participants in the Index, respectively), to a greater extent than on the bus (only 18.3% see it as possible). When using the car, 84.3% assume that it is possible to pay without cash in parking lots and 76.7% affirm the same in the case of parking meters.
In global terms, users also They have begun to perceive that it is possible to make electronic payments in city council offices (34%) and state offices (35%), although it is precisely in this field that Madrid stands at the tail of all the cities compared.
In this regard, Real (MasterCard Spain) recalled that "many establishments still have restrictions on the payment without effect for small amounts due to the erroneous belief that electronic payments cthey have high commissions ». In this regard, he recalled that the commissions are regulated and that they have fallen by 70% and that the perception that there is a restriction also affects users now paying for bread or any product with a lower price.