The buzz around mobile payments is growing, if social media chatter is any indication. That’s the overall finding of a new study from MasterCard, conducted in collaboration with PRIME Research.
The study analyzed two million social media posts from Facebook, Twitter, Instagram, Forums, YouTube, and Google+; whereas back in 2012, the study tracked only 85,000 posts. In a statement, MasterCard asserts that the study found “continued positive sentiment about mobile payments technology”, with 94 percent of the posts indicating a favorable view of mPayment services.
Apple Pay, Samsung Pay, Android Pay, and MasterPass were the focus of fully 97 percent of the tracked mPayment conversations last year. MasterCard also notes that beyond the subject of these ‘digital wallets’, contactless cards were a popular topic, taking 47 percent of the conversations, while biometrics reached 33 percent.
That last point may be particularly important, as security in mPayments “continues to drive conversations,” with 91 percent of these discussions in 2014 taking a positive view on the topic.
Meanwhile, wearables accounted for only six percent of the mPayment posts not discussing digital wallets, but MasterCard notes that mentions of this technology were 30 times higher in Q4 of 2015 than they were in Q1, suggesting a strong growth trend.
All told, the building buzz suggests growing consumer excitement about mPayments, and a bright future for the market.