What Over 19 Million Social Media Conversations Reveal about Mobile Payments [SPONSORED]

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Mobile payments. We’ve seen through news coverage, conversations with friends and family and our own usage how pervasive this technology has become this past year.

To go beyond the buzz, MasterCard partnered with Prime Research, to identify evolving consumer attitudes toward digital payments and mobile solutions.

MasterCard’s third annual Mobile Payments Study [KR1] tracked 19.1 million social media posts across Twitter, Facebook, Instagram, Forums, Weibo (CN), Google+ and YouTube throughout 2014. The study, released today at Mobile World Congress in Barcelona, uncovered that conversations have shifted away from security concerns and toward enriched experiences delivered through mobile payments, such as convenience, loyalty and rewards. Consumers went from asking “why mobile?” to “what’s next” in 24 months.

The introduction of technologies such as tokenization and biometrics is mirrored in online conversations and contributed to a tipping point in consumer sentiment around security. 

What does this all mean? Confusion and concern over safety and security cited in both the 2012 and 2013 studies have been nearly entirely replaced by consumers celebrating more secure solutions:

  • In 2014, safety and security ranked among the most positive topics discussed with 91% favorable conversations while in 2012, it was the most negative topic discussed with just 20% positive conversations.
  • Overall sentiment around mobile payments continued to improve in 2014, achieving a remarkable global average of 94% favorable conversations. This metric is up from 77% positive last year and 70% in 2012.
  • Conversations have shifted away from security and towards enriched digital experiences including convenience and additional rewards and loyalty.
  • Consumers were most excited to share specific purchases made with mobile payments, particularly how they could the convenience of utilizing mobile payments for everyday purchases.
  • Additional benefits associated with mobile payments reinforced consumers’ loyalty to mobile devices, and the eligibility for taking advantage of such incentives was shared most prominently across payment brands.
  • Eligibility for taking advantage of such incentives points to opportunities for MasterPass and other digital payment services.

What do you expect mobile payments to do for YOU in 2015?

Share your thoughts using #WhatsNext.

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