89% of Users of MasterCard, Visa, and UnionPay Know Cryptocurrency – And 53% of Them Have Purchased It!April 25, 2018
The global study of a cryptocurrency purchase made by the MasterCard, Visa, and UnionPay card users had manifested that there are 89% respondents have an idea about the cryptocurrency, and 53% of them purchased it in the previous twelve months.
Worldcore, a global payment service provider had conducted a study on approximately 300,000 customers in total who are availing its service. The idea behind this study is to find out who among the users of MasterCard, Visa, and UnionPay know and use the cryptocurrency.
Worldcore is regulated by Europe as the payment institution that has headquartered in Prague, Czech Republic. It has the partnership with the Bitpay in offering cryptocurrency solutions to the customers based worldwide. Last year in August, they had announced Initial Coin Offering or ICO as part of the plans for expansion.
“UnionPay has the biggest scheme in the global segment for the card numbers since 2010,” according to the RBR’s Global payment Cards Data and Forecast to the study published in July last year. “ By the end of the year 2016, there are over six billion branded cards under the UnionPay had circulated. Furthermore, the company had found out that MasterCard, Visa, and UnionPay had collectively accounted for 80% of cards all over the world.”
In the survey results, among the respondents, Japanese participants were 36%, Americans were 25%, Koreans were 18%, Europeans were 8%, Chinese were 6%, Latin Americans were 2%, Canadians were 2% and the rest 1% came from Russian and CIS. The users who brought cryptocurrency is the past twelve months, there are 21% of them using the credit cards, on debit cards are 36%, and 43% are using other payment forms.
60% had cited the risks as the major reason among the participants who didn’t buy any cryptocurrency within this period. There are 35% of the respondents reported having insufficient funds while there is only 5% found out to say that cryptocurrency transaction is against the lawsuits.
Worldcore’s CEO, Alexey Nasonov is quoted by the Finam explaining: “Among the clients, we have the users with various ages and specialties, but the research is conducted among the very active audience in the case of transitions. Of all the popular services we have is the mass payment used around the world, and the use of the cryptocurrency wallets. Initially, the conducted research is among the users who are savvy enough in the aspect of financial services.”
As the survey manifested a high rate in the case of card users being knowledgeable about the cryptocurrency, and have the willingness to buy them, the largest banks all over the world have mostly listened to the regulators an then prohibited the use of credit cards for the cryptocurrency purchases. Among the banks that prohibited their clients from buying cryptocurrency using a credit card are the Bank of America, JPMorgan, Citigroup, Capital One, and Discover Card.