Reasons for a decrease in cash in wallet in Macao 2020
As reported by a survey in 2020, the leading reasons for consumers in Macao to carry less cash in wallets were the increased use of contactless payments, stored-value cards, and credit cards. Other non-cash forms of payment such as debit and prepaid cards were also popular, albeit to a lesser degree. Counterfeit cash appeared to be a less common concern, with less than one out of ten respondents going cashless for fear of counterfeit money.