MasterCard Advisors announced the results of the MasterCard Advisors PayPass Adoption Study, providing a quantitative analysis of the changes in U.S. account transaction behavior after adopting a contactless payments solution.
The study divided accounts into low, medium and high spend segments based on their monthly spend prior to adoption, and the 30% lift was consistent across the three segments, regardless of their spend levels prior to adoption.
The PayPass Adoption Study also noted significant lifts in top-of-wallet behaviors such as Recurring Payments, e-Commerce and Cross Border spend. Most significant of these is the lift in Cross-Border spend, which exceeded 50 percent in all three spend segments in the 12 months after PayPass adoption.
In addition, the examination offers a number of insights into the adoption and use of new payment solutions such as MasterCard PayPass. In one of the study’s key findings, the research showed that within the first 12 months of their first contactless transaction, PayPass-enabled accounts spent almost 30% more on average, using their PayPass-enabled card.