Feb 13, 2014 (Thu): Do you prefer to use cash or card to pay for your purchases? According to a recent survey by Nielsen among 30,000 Internet respondents in 60 countries, more than half of Malaysian consumers (60%) prefer to use credit card for their daily spending rather than card – credit card (20%), debit card (14%) and prepaid card (2%). The preference for cash was even stronger in the neighbour countries – the Philippines (74%), Thailand (68%) and Vietnam (61%).
Among Malaysian respondents, 42 percent of them use one payment card on a regular basis, while 40 percent use two, 11 percent use three and 6 percent use more than three cards.
The survey also revealed that security concern was one of the reason that stopping them to shop online. 55 percent of Malaysian respondents say they are either hesitant or would not shop online and use their payment card details on either a smartphone or tablet device although their personal information is protected. Consumers in Vietnam (54%), Singapore (51%) and Indonesia (50%) share the same view but more than of consumers in the Philippines (57%) and Thailand (55%) say they are comfortable to shop online using their payment card detailed stored on smart devices.