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PRESS RELEASE

August 19, 2026 | San Juan, Puerto Rico

 

Mastercard study reveals that demand for digital payments exceeds acceptance in Puerto Rico

Nearly nine in 10 would like more establishments or people to accept digital payments, while 58% use cash at least once a month when they would prefer to pay digitally.

Consumers in Puerto Rico actively use both traditional and digital financial services, but limited acceptance and a lack of payment options continue to lead them to rely on cash. According to Mastercard's most recent State of Digitalization and Financial Inclusion study, 88% of respondents would like more businesses or individuals to accept digital payments, while 58% use cash at least once a month when they would prefer to pay by card or another digital method.

The findings point to an opportunity to expand the acceptance of digital payments, offer consumers more options, and increase awareness of emerging solutions. Among respondents who reported having a bank account, 84% had used traditional banking services and 77% had used digital financial services or fintech in the six months prior to the survey.

Debit cards were the most used payment method, at 63%, followed by bank transfers at 56%, and digital wallets at 50%. The results suggest that established methods continue to benefit from widespread awareness and acceptance, while greater familiarity and acceptance could encourage more widespread use of newer solutions.

“The data is encouraging: consumers in Puerto Rico are actively participating in both traditional and digital channels. It also shows that consistent, everyday use depends on people understanding a payment method and being able to use it wherever they need to,” said Pablo Cuarón, Mastercard’s country manager for Puerto Rico. “Our focus is on expanding digital acceptance, increasing payment options, and helping consumers understand the solutions available to them.”

 

Familiarity and trust influence payment decisions

Respondents reported a high level of familiarity with established financial products, while knowledge of newer solutions was lower. This difference may influence the level of confidence with which consumers evaluate and use emerging payment options.

Among survey participants, 82% said they were familiar with debit cards, 78% with checking accounts and transfers, and 75% with savings accounts. Awareness of emerging solutions was lower: 63% were familiar with digital wallets, 26% with Buy Now, Pay Later (BNPL) services, and 16% with cryptocurrency wallets.

Trust, security, and understanding also emerged as important considerations when choosing a payment method. 96% of respondents prioritized trust and security, while 93% stated that understanding how a payment method works was important. Furthermore, 83% indicated they trust digital service providers to handle their money and data, and 82% noted they feel safer carrying less cash.

The findings indicate that familiarity, trust, and understanding can help consumers evaluate newer payment methods. Clear information about how these solutions work, along with trust in the institutions that support them, can contribute to wider adoption.

 

Puerto Ricans want to pay digitally, but they can't

Among users of digital payments, the most frequently mentioned benefits are time savings, at 64%; efficiency, at 56%; and convenience, at 44%.

At the same time, an acceptance gap persists: consumers cannot always use their preferred payment method.

  • 88%  would like more establishments or people to accept digital payments, indicating widespread interest in greater acceptance.

  • 86%  would like to have more payment options, which underlines consumers' interest in being able to choose the method that best suits each transaction.

  • 58%  use cash at least once a month when they would prefer to pay by card or other digital method, suggesting that limited acceptance may influence how consumers pay.

Six percent of respondents stated they do not currently use digital payments; within this group, 65% indicated they would likely adopt them in the future. Clearer information about consumer protections and how digital payments work, along with a wider variety of payment options, could help boost their adoption.

“These findings show that consumers in Puerto Rico are interested in using digital payments, but they still encounter barriers,” Cuarón added. “We are working with merchants to expand digital acceptance, supporting financial institutions as they expand their payment solutions, and collaborating across sectors to help make digital payments a reliable and simple option for everyday transactions.”

In Puerto Rico, Mastercard is focused on expanding the acceptance and options of digital payments, strengthening trust in digital solutions, and helping consumers understand emerging options. Through collaboration with financial institutions, businesses, government entities, and community partners, the company seeks to help more consumers use their preferred payment methods for everyday transactions.

 

Methodology

The data mentioned in this press release comes from a survey of 405 adults aged 18 and older in Puerto Rico. The Puerto Rico study was part of a larger Mastercard survey conducted in 10 countries in the region between February 11 and 26, 2016. The margin of error for the Puerto Rico sample is ±5 percentage points, with a 95% confidence level. Findings from subgroups based on fewer than 100 respondents should be interpreted as indicative; these groups are identified with an asterisk.

Media contact

 

Sabrina Álvarez

sabrina.alvarez@mastercard.com

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com