ZERO MINIMUM SURVEY

Summary of Key Findings
Mastercard commissioned a study in January 2016 to understand Australian consumer perceptions and behaviour around payment choice for low-value transactions. The study was conducted by Ipsos online in January 2016 using a sample of 1,010 Australian cardholders aged between 18-64 years old across Australia.
Below are the summary of the key findings from the study:

1. Businesses are missing up to forty (40%) percent of their business by not offering consumers the choice to make payments of any size with their choice of payment form.

• 44% avoid shops that do not allow the use of cards for small transactions

2. Consumers are increasingly aggravated when they need to pay cash for smaller purchases or where there is a minimum spend requirement.

• 84% resent restrictions such as paying a fee for smaller transactions.
• 62% find it frustrating when they can’t use cards for small transactions

3. Younger consumers will not stand for restrictions and are voting with their feet by taking their patronage to where they are offered payment choice with no minimum spend limit.

• More than 70% of 18-34 year olds prefer cards for small transactions – more convenient than carrying small change
• 54% of 18-34 year olds actively avoid shops that do not accept cards for small transactions

The benefits transcend the consumer through to the retailer with cashless payments being quicker, cleaner and safer:

• Quicker – with contactless technology payments are virtually instantaneous meaning faster queues and the ability to serve more customers, delivering value for the retailer
• Hygienic – not exchanging money means contaminated bills and coins don’t change hands
• Safe – card transactions reduces the volume of cash handling and the amount of cash in the till therefore decreasing the risk of theft.

The Zero Minimum Campaign is a commitment from businesses to their customers that they are welcome to pay whichever way they want – without restrictions. Participating retailers will offer consumers the choice to embrace the speed and convenience of using cards for all sized transactions with no minimum spend requirement. To find out more about participating in the Zero Dollar Minimum campaign, please visit https://no-minimums.com.au/