MasterCard: Convenience Helps Mobile Payments Win Consumer Approval

At Mobile World Congress, MasterCard announced the findings from its third annual Mobile Payments Study, one that targeted conversations on social media. The findings indicated that consumers have shifted their focus lately from questioning the security of mobile payments to discussing the possibilities of enhanced digital device experiences, according to MasterCard.

In the study, which tracked 19.1 million global social media posts across Twitter, Facebook, Instagram, Forums, Weibo, Google+ and YouTube throughout 2014, overall sentiment around mobile payments continues to improve, MasterCard stated. In 2014, 94% of global conversations were favorable versus 77% in the year earlier and 70% in 2012.

The most positive conversations centered around innovation, rewards and loyalty, and convenience, with a 91%  rated to be, on average, positive in tone.

Overall, 91% of the safety and security conversations in 2014 were rated as favorable, up from 20% in 2012 when the topic generated the most negative tone in the study, MasterCard noted.

In terms of hot topics, MasterCard stated, confusion and concern over safety and security, cited in both the 2012 and 2013 studies, have been replaced by consumers celebrating more secure solutions. Tokenization and biometrics, both key conversations in 2014, contributed significantly to the change in tone, MasterCard asserted.

Sentiment around mobile payments continues to improve. In 2014, 94% of global conversations were favorable versus 77% in the year prior and 70% in 2012. In social media conversations, convenience was the most positive aspect of mobile payments, rating 94% positive sentiments, Mastercard added.