An analysis of payments trends in Mauritius shows that the use of MCB Juice and credit cards continues strong, with supporting statistics as follows:
– 7 million transactions by Juice and bank cards in December 2023
– Rise of 119% in merchant payments through Juice between December 2022 and 2023
Port Louis, January 26, 2024: Over 7 million transactions were undertaken via Juice and cards by MCB clients for the month of December alone. A huge number that serves to confirm the growing propensity of bank customers to use cash alternatives.
Last year’s festive period, which takes into consideration transactions between 1-31 December 2023, clearly demonstrates the increased adoption of the cashlite mindset that the MCB has been supporting and encouraging for several years through specific products and services.
MCB customers have indeed shown marked enthusiasm for the use of cards and the Juice app to make their purchases for the 2023 end-of-year period. With more than 7 million transactions, the use of these payment methods increased by 20% among MCB customers between December 2022 and December 2023. A figure which includes both in-store transactions as well as online ones, locally and internationally.
Conversely, the decline in use of cash is confirmed, with a fall of 3% during the same period. Peak purchases by MCB customers were noted on December 23, followed by December 24 and December 30. Also during the festive period, the bank’s customers made the majority of their purchases at supermarkets, followed by clothing stores and retailers.
A 119% increase in adoption of mobile payments among merchants
Overall, the number of bank customers who have adopted digital payments (Juice, contactless or online) has increased by 9% between December 2022 and the corresponding month in 2023.
The increase is particularly marked for payments via the Juice app which saw a dizzying increase of 119% in the number of transactions. Meanwhile, contactless payments increased by 51% during the same period. It should also be noted that, to date, more than 8,000 points of sale accept contactless payments in Mauritius.
Rising popularity of online shopping
Another habit which seems to be more and more established among MCB clients is the trend of online shopping. The number of these transactions increased by 26% during the corresponding period. Airline ticket purchases rose to the top of the ranking, followed by purchases on online sales sites (Shein.com, AliExpress or even Amazon), then through Facebook ads and Google.
Commenting on these figures, Stephanie Ng Tseung, Head of Payments at MCB notes that Digital payments are now well entrenched in the habits of bank customers. “Today, it is undeniable that we have entered an ecosystem in which cash will have less and less importance, supplanted by alternative payment methods,” she explains.
Stephanie Ng Tseung further adds: “MCB was a pioneer in launching contactless payments and mobile payments. We will continue our digital payment innovation strategy, while we keep encouraging a cashlite mindset. Things are moving very quickly and we will ensure we support our customers to the fullest.”
