Cash is no longer king, at least among Singaporeans

SINGAPORE (May 16): Cash is fast becoming a thing of the past for Singaporeans, according to a recent Visa study.

The 2016 Visa Consumer Attitudes survey was conducted by survey tech-provider Toluna on a total of 500 Singaporeans to gain insights and assess their attitudes towards cash and card usage, mobile banking, contact payments and online shopping, etc.

Based on the survey results, 87% of Singaporeans prefer to make electronic payments as opposed to using cash, an 11% increase from the previous year’s survey results and also representing the highest preference for electronic payments in the region.

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