Data from Visa, one of the leading payment processors, tells a tale of travelers using cash less and less in their travels, with as many as 97% of travelers in the Asia Pacific region not bothering to bring cash along.
Overall, Visa says, 31% of travelers brought cash to their destinations in 2023, down from 79% in 2020."We are witnessing a significant shift in travellers' behaviours and payment preferences post-pandemic, with many opting for safe, digital, and touch-free payment methods, " according to Visa officials.
Although the study doesn't track how many travelers draw cash from ATMs on arrival, the conclusion seems solid: throughout the world, the growth of tap-and-pay on a variety of devices, combined with a merchant willingness to take cards for even very small transactions, has changed the picture sharply in only a short time.
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