New Zealand may have bright new bank notes -- with more to come in April -- but half of Kiwis think cash will be obsolete in 10 years' time, a survey has found.

Just under 50 per cent of New Zealanders said they expected not to be using cash in a decade, an online survey of 1008 Kiwis by market research company Perceptive, on behalf of MasterCard, found.

But more than a third of that 49 per cent said retailers needed to do more to embrace new payment technology -- such as contactless payment.

There is already a strong contingent of consumers ready to ditch notes and coins -- with 36 per cent saying they would happily go without cash within the next few years.


And 41 per cent said they'd consider using contactless technology through their smartphone now.

For online shoppers, concern about security was at the top of 41 per cent of respondents' minds, while 35 per cent were most concerned about whether or not they were dealing with a legitimate business.

Concerns about the quality of the product they bought -- and whether it would fit the description and buyer's expectations -- was the main concern for 34 per cent of people.

According to MasterCard, concern about online security of personal and banking details decreased compared to previous surveys, and 66 per cent of people said they now bought something online at least once a month.

The survey was performed in November 2015, with a margin of error of 3.1 per cent.