A new research commissioned by Mastercard reveals that 73 percent of debit cardholders in Europe would like to have their existing card changed to a new one that can be used anywhere across Europe. The study covered 3,000 debit cardholders in Belgium, France, Germany, The Netherland, Poland and the U.K.
It further revealed that 80 percent of consumers want to use their debit card uniformly in Europe.
This is in light of the impending Single Euro Payments Area (SEPA) which will be implemented by January 1, 2008. By that time, debit cardholders must be given payment cards which will enable them to make payments under the same conditions and rights regardless of location. The concept, however, still needs further promotion to raise public awareness.
Meanwhile, 80 percent of debit cardholders say they would rather use their card instead of cash in making payments. Sixty-seven percent say they feel more secure using their card than paper money. The study also found that European consumers are using their cards more often with 39 percent of them saying they have used their debit card more than in the previous year.
