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Discussion in 'General Discussion | Travel' started by uggboy, May 28, 2013.
|| Survey confirms demise of the traveller’s cheque ||
Interesting insights indeed.
What this doesn't say is how the people in the survey were selected.....
why am I not surprised.
The study itself probably does not mean much, done by an interested party anyway. Still, globally the data I have seen support the following major shifts:
1. To credit cards in countries that are already credit card dominant (e.g. Australia. South Korea, UK, US);
2. To debit cards in countries that are debit card dominant (e.g. France, Germany, much of the EU);
3. To prepaid in countries with exchange controls or high external transactions costs on Credit Cards (e.g. Brazil, China)
There are lots of data about these movements. My comments are derived from some of those. There is data on the subject from MasterCard, Visa and several large processors.
The problems with the gross generalisations are that the changes are happening country by country in a very different way, affected by legislation and consumer behaviour. Further, within national markets there is a dramatic difference based on demographic differences. For example, frequent travellers in most non-credit card dominant markets do use credit cards even though casual holiday makers do not. Further, with rare exceptions (e.g. Brazil) frequent travellers do not use prepaid cards.
In this, as in most things YMMV.