MasterCard: 'Contactless' Consumers Spend More Cash
The study also notes use of a contactless card means more spending among "low, medium, and high spend segments." So it's not just the affluent that are spending significantly more money using swipe-free cards. Growth among all three categories was "consistent", the study reports, although high earners may use their cards slightly more.
"In our highest spend segment, this lift translates into approximately $600 per month in incremental
Indeed, for card companies looking for additional profit centers in a stricter government regulation environment, a potential 30% spending uptick among customers will likely lead to one conclusion: "Wave" beats "swipe" any day of the week.