Survey: Europe's Online Shoppers Are Wary of Digital Currencies

European consumers are largely avoiding cryptocurrencies when making e-commerce payments, MasterCard finds.

Mar 29, 2017 at 10:30 a.m. UTC
Updated Sep 11, 2021 at 1:12 p.m. UTC

European consumers are largely shunning digital currencies when making e-commerce payments, according to a recent survey commissioned by MasterCard.

The online survey polled just under 43,000 people between the ages of 18 and 64, from 23 different countries, who said they shop online. The results revealed that just 2% of respondents who make mobile payments for e-commerce said they use digital currencies, an amount mirrored when the group was asked about shopping online from a PC or laptop.

The report also included data on overall interest in new payment types, with the survey focusing on a list that included digital currencies, banking apps, e-wallets and QR code scanning. Digital currencies ranked last, with 11% of respondents expressing interest.

MasterCard also reported that, based on the countries it surveyed, Spain was the top country for consumer interest in digital currency, followed by Croatia and Italy.

That the firm would seek input on the thinking of online spenders about digital currencies is perhaps unsurprising. Last November, the US Patent and Trademark Office published four patent applications submitted by MasterCard, which focused on integrating blockchain-based currencies into its systems.

Disclosure: MasterCard is an investor in CoinDesk's parent company, Digital Currency Group.

Shopping cart image via Shutterstock

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