Travelers Prefer To Leave Cash At Home, Visa Survey Finds

When packing for a trip, there’s one thing international travelers would rather not bring with them: cash. This is according to the latest Visa Global Travel Intentions Study, which found that the entire process of using cash when they’re away from home was stressful for folks. Respondents said they much prefer the convenience of a credit card when paying for things overseas, and appreciate the various cashless payment solutions available to them.

When traveling in another country, there are several issues with using cash. First, you have to actually get the cash – changing your currency into the local bills or coins needed. Then there’s finding a way to carry that cash safely, as well as the pressure of paying for things with unfamiliar currency.

Using a credit card averts all of those issues, and with the plethora of travel rewards credit cards that offer no foreign transaction fees, along with generous rewards for spending, there doesn’t seem to be a good reason for travelers to worry about using cash on their adventures anymore.

Travelers shy away from technology

Many people are still reluctant to use payment technologies overseas, including mobile payments or credit cards. The Visa survey found that while folks are happy to use technology to plan their trips – 83 percent of respondents said they use it to navigate destinations and create itineraries – 77 percent of them still cling to using cash when paying for things overseas.

However, there are many reasons for people to get over this fear and embrace using payment technology rather than cash. The number one fear cited by survey respondents was losing their cash or having it stolen. Using a credit card for payments keeps this from happening.

Visa’s chief marketing and communications officer, Lynne Biggar, reminds people that using a Visa card to pay in local currency gives them the best exchange rate, as well as helping them with currency conversion fees that may get tacked on later. Using a credit or debit card for purchases overseas also offers security and convenience – and is easier and safer than carrying cash.