Social Media Study Finds Buzz Around mPayments, Biometrics

“According to the report, 43 percent of the consumers analyzed in the study “expressed interest in biometrics and other forms of authentication” to improve digital payments security, and 51 percent of those conversations were driven by advancements in facial and fingerprint recognition.”

Together with PRIME Research and Synthesio, Mastercard has been listening in on some online chatter, and is finding that users are increasingly interested in digital wallet and mPayments technologies.Social Media Study Finds Buzz Around mPayments, Biometrics

The companies analyzed 3.5 million conversations from Facebook, Twitter, Instagram, and Weibo for the latest Mastercard Digital Payments Study. They found digital wallets dominated 75 percent of the online discussions around payments, and that the use of in-store digital payments got two million mentions. Related technologies like home assistants and AI were the second most popular payments-related topic of last year, while IoT-enabled payments were rising in prominence in North American and Europe.

According to the report, 43 percent of the consumers analyzed in the study “expressed interest in biometrics and other forms of authentication” to improve digital payments security, and 51 percent of those conversations were driven by advancements in facial and fingerprint recognition. “The social buzz around these new biometric and authentication technologies was overwhelmingly positive,” the reports asserts.

The findings suggest that as mobile payment platforms continue to rise in popularity, biometrics and other authentication mechanisms will play an increasingly important role in securing transactions and reassuring new users, while also facilitating greater ease of use, as can be seen in examples like Apple Pay’s Touch ID. Consumers want security and convenience, and biometrics offer both.