MasterCard’s Take on the Future of Electronic Payments

Our grandparents spent years, even decades, adjusting to the cultural impacts of new technologies like the radio or television.
Today, we simply adopt them and move on, taking them for granted.

We take for granted that tremendously complex, life-changing innovations will simply be there, without considering what it would mean if they were suddenly gone. And sometimes we forget that using them responsibly is crucial to the value they deliver.

On average, there are more than two cars for every U.S. household. Americans can’t imagine living without them, and yet auto accidents are our country’s top cause of accidental death. Rather than reintroducing the horse and buggy, which is frankly a safer way to travel, automakers have fought hard to differentiate themselves by introducing new ways to make their vehicles safer and provide drivers with more control. Innovations like air bags and antilock brakes have become standard.

No one questions how much easier the vehicle makes people’s lives, but consumers will hold automakers responsible if the fast, efficient transportation they are expected to provide is not trustworthy. Just ask Toyota.

Today, the electronic payments industry is in the same situation. The debate about whether or not to use cards or other forms of electronic payments is no longer relevant. It’s like debating whether to take the Honda or the horse and buggy to the supermarket. Consumers have spoken. Businesses have spoken. Governments have spoken. The benefits of paying electronically are undeniable.



Related Content


MasterCard Partners in Prepaid Set to Drive Global Innovation and Growth

MasterCard Product Profile: MoneySend

MasterCard: Igniting Innovation in Payments