75% of Bulgarians who Use Mobile Payment Applications Believe in their Security

The annual report of Mastercard - Masterindex provides new information about the Bulgarians' perceptions of payment methods, banking services and the frequency of their use. A survey, which was conducted this year, shows that almost every Bulgarian in the country has a debit card (98%), while the percentage of credit card holders is 40. The holders of debit cards in Bulgaria are more compared to those in our neighbouring Macedonia and Serbia, where they are 94% and 79% respectively. Nearly half of the respondents are interested in instant transfers and P2P payments, 51% and 44% respectively, the main reason being the speed and convenience they provide. Biometrics is the preferred method of authenticating payments among consumers who pay with their phone - 43% prefer to enter biometric data.

In terms of frequency of use, debit cards are most commonly used in Bulgaria - 39% of the people pay with them daily, while 32% use credit cards up to twice a month. Users determine their choice of a particular brand of payment card mainly based on the good reputation of the card issuing bank (40% indicate this indicator as the leading one). At the same time, it is clear that cardholders in Bulgaria are very price-sensitive when it comes to choosing a bank - customers tend to focus on low interest rates and low commission rates (64%). Other important reasons for choosing a bank are the additional features of the card, as well as whether it is accepted by all ATMs (about 30% indicate these two factors). As a major incentive to increase the frequency of payment card use, consumers cite the possibility of reimbursement of loyalty schemes (44% and 46% respectively).

For the most valuable feature when choosing a card, consumers cite the security they guarantee when...

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