New research, based on social media, finds that the confusion and concern over safety and security of mobile payments has been replaced with conversations about tokenization and biometrics.
The third annual Mobile Payments Study from MasterCard and PRIME Research also found the most positive conversations centered around innovation, rewards and loyalty and convenience (91% average positive tone).
Overall sentiment around mobile payments continues to improve. In 2014, 94% of global conversations were favorable, compared to 77% last year and 70% in 2012.
Also, 91% of the safety and security conversations in 2014 were favorable, up from 20% in 2012 when it was the most negative topic appearing in the research.
Conversations on digital innovation and the enriched experiences delivered by mobile and connected devices drove the majority (71%) of social discussions among stakeholders in 2014.
Convenience was the most positive aspect of mobile payments (94% positive sentiment). Consumers were most excited to share specific purchases made with mobile devices, particularly how they could utilize them for everyday purchases.
Along with convenience, additional reward incentives – like coupon redemption and loyalty programs and points – were discussed frequently within innovation (24% of stakeholder conversations). The additional potential benefits to be integrated into mobile payment offerings reinforce consumers’ loyalty to using mobile devices (58% of conversations were driven by consumers), and point to opportunities for MasterPass and other digital payment services.
The study tracked 19.1 million global social media posts across Twitter, Facebook, Instagram, Forums, Weibo (CN), Google+ and YouTube throughout 2014, up from 85,000 posts in 2012.
For more data on Mobile Payments access CardData®. For information and commentary on Mobile Payments visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Mobile Payments are available exclusively through CardWeb.com.®