Sitemap

Master Index 2018 – Debit Cards In Almost Every Wallet, More Than Half Use Plastic For Bills Over 1,500 RSD

More...

News

The Serbian Government Adopted A Set Of Decrees In The Field Of The Economy For 2021

The Serbian government adopted a set of decrees in the field of the economy for 2021, which encourage regional...

TRAG Foundation Announces Fourteenth Competition Of The Virtus Award For Philanthropy

Trag Foundation has announced the launch of the competition for the 14th Annual VIRTUS Award for Philanthropy. This competition...

Novak Djokovic’s Open Letter After Facing Criticism For Quarantine Demands in Australia

World No 1 Novak Djokovic published an open letter to the Australian public on Twitter on Wednesday in which...

Joe Biden Inaugurated As The 46th President Of The United States

Joseph R Biden Jr has been sworn in as president of the United States and Kamala Harris has become...

COVID 19 Vaccination Drive In India

The commencement of COVID vaccinations has focused attention on the modern medical miracle of immunisation. It has eradicated some...

Compared to the last year, the number of people who use their cards at least once a week has slightly increased (from 76 to 83%), indicating a growing reliance on the practicality and safety of cashless payments in everyday shopping activities.

MasterIndex shows that debit cards are mostly used for buying food (74%), petrol (35%) and clothes (33%), while credit products, as a convenient way to obtain additional funds or make repayment in instalments, are mostly used for buying furniture and home appliances (62%), clothes (52%) and food (32%). What is also a good indicator of cashless developments is the fact that usage of payment cards at ATMs has further decreased – by 6% for debit, and 13% for credit cards.

“This year’s MasterIndex results underscore that the higher the amount to be paid, the higher the likelihood that people will reach for cards – we now see that for bills of up to 1,500 dinars, 34% of respondents opt for cards first, 59% use plastic for bills over 1,500 dinars, while 69% make cards their first choice for bills over 3,000 dinars. Cashless society becoming a reality in Serbia is not only positive news for consumers and merchants who simplify their commercial activities, but also for the state that benefits from more transparent financial flows and consequently, lower shadow economy level,” Jelena Ristić, Country Manager for Serbia, Montenegro and Bosnia and Herzegovina, Mastercard, commented.

It is exactly the simplicity of usage that was deemed as the most appreciated payment card feature by 40% of MasterIndex respondents; 1 in 4 appreciates practicality, 14% safety and 11% for the speed of cashless payments.

When choosing the card that they will use, Serbian consumers, look into several factors – primarily, those are extra features such as deferred payments or complementary insurance policies (53% of respondents), ATM network (39%), good reputation of the issuing bank (35%), and low rates and fees (20%), but there are also 38% of respondents who said that they did not choose their card, but it came with their bank account.

MasterIndex Serbia research has also pointed out that discounts at selected merchants (65%) are the preferred incentive that would prompt more frequent card usage, followed by money refund (40%), and prizes (35%).

For the first time, state and municipal institutions were not the first choice for locations where consumers would like to have the option to pay with cards – topping the list are courier services at the moment of delivery with 1 in 3 respondents seeing this as a convenient option and open markets (27%).

Related Articles

Jelena Ristić, Country Manager, Mastercard

Cash Is Expensive And Risky

Mastercard is a company that stays on top of payment trends by carefully monitoring consumer needs, while its combination of safe and flexible technologies,...

Mastercard® provides premium and business cards users exclusive ads at KupujemProdajem

Mastercard and “KupujemProdajem” created the Golden Ad in a joint campaign, a benefit for users of Mastercard Business, Platinum and Gold cards, which allows...

Champions of the non-cash payments

The Serbian Government Office for IT and eGovernance in cooperation with NALED and with the support of the companies Mastercard and Visa, launched today...

Societe Generale Serbia has digital cards: Pay by phone at any time

Societe Generale Serbia has launched mCard - a service that enables contactless payment by smartphone at all POS terminals in the country and abroad,...

New Technologies Drive Conversations on Payments and Demands for Access

Want to grab that coffee or package and go? You’re not alone. Today more than ever, people are living an increasingly digital – and...

1 in 3 Serbian SMEs note market conditions biggest challenge for growth

1 in 3 SMEs in Central Eastern Europe enables card payments as a response to strong customer demand, while 18% of them see card...

Additional benefit for Mastercard contactless consumers

Mastercard today announced that the maximum amount for contactless payments without a PIN will increase to RSD 3,000. This change will take place on...

Serbs prefer summer, Cyrillic and holidays with family, don’t have much free time

New Mastercard study A typical Serb prefers summer to winter holidays, would rather call than text their friends, enjoys spending New Year and Christmas at...