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MasterCard's chief financial officer, Martina Hund-Mejean, said consumers worldwide were moving away from cash and checks to electronic forms of payments.
In some cases, consumers are simply switching to other forms of payments -- ones that do not include possible interest charges -- rather than cutting back on spending by the same amount that they are reducing credit card purchases.
"We always encourage our customers to bring a variety of forms of payments when they travel.
In Asia, consumer behavior is changing rapidly and consumers are already leapfrogging traditional forms of payments to use mobile.
"7-Eleven constantly updates and introduces new forms of payments to respond to continued shifts in customer preferences, lifestyles, and adoption of new technologies".
At the same time, it can also improve conversion rates in places where it supports local forms of payments, according to co-founder and CEO Pieter van der Does.
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That, in turn, may help to prepare people for more outlandish forms of payment.
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