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Study: Consumer embrace of next-gen payments on the increase

Social media comments asking issuers and retailers for ready-to-use mobile payments options more than doubled last year, MasterCard says.

Social media comments by consumers asking issuers and retailers to provide ready-to-use mobile payments options more than doubled in 2015, according to a new study from MasterCard.

The fourth annual MasterCard Mobile Payments Study, developed in partnership with Prime Research, tracked two million global social media posts about mobile payments across Twitter, Facebook, Instagram, Forums, Google Plus and YouTube — up from 85,000 posts in 2012.

"As more choices are made available to them, the conversation has evolved and consumers seem to be fully embracing the next generation of payments," said Marcy Cohen, VP of digital communications at MasterCard.

Digital wallets including Apple Pay, Samsung Pay, Android Pay and MasterPass comprised 97 percent of mobile payments conversations in 2015. Comments centered on product launches, service improvements and how users are evaluating them.

Contactless cards drove 47 percent of conversations, followed by biometrics at 33 percent, personal payments at 14 percent and wearables at 6 percent.

Mentions of wearables in the last quarter of 2015 were more than 30 times higher than in the first quarter of the year.

Digital wallet conversations increased in every region, with Asia Pacific up 159 percent, Europe up 144 percent, Latin America and the Caribbean up 20 percent, the Middle East and Africa up 111 percent, and North America up 519 percent, MasterCard said.

The safety and security of mobile payments continues to drive conversations; 94 percent of consumers expressed to take a positive or neutral view of the services being offered to them. Consumers were most engaged in discussions about the end of passwords and biometrics.