News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Social Media Study Shows In-App Payments, Digital Wallets Dominate Payments Conversation in U.S. – Sept. 10, 2015

Social Media Study Shows In-App Payments, Digital Wallets Dominate Payments Conversation in U.S.

Sept. 10, 2015

Social Media Study Shows In-App Payments, Digital Wallets Dominate Payments Conversation in U.S. Digital wallets and in-app payments are top of mind for consumers around the world, according to new research from MasterCard. In their Retail Social Listening Study, media research firm PRIME Research and MasterCard analyzed social media and other online conversations about the retail experience. They found retailers around the world are under increasing pressure to adopt new payment technologies that make payment—both in-store and online—simpler. Overall, convenience was discussed 77 percent of the time in connection with new payment methods. And, the study showed marked differences in regions around the globe regarding payment methods.

North America had the highest percentage of favorable conversations about digital wallets and in-app payments (96 percent). Digital wallets and in-app payments were also discussed overwhelmingly favorably compared to contactless payments in Europe and the Middle East and Africa. Contactless card payments dominated in Latin America and Asia Pacific.

“The wave of social engagement we see every time new payment innovations are rolled out truly reflects the demand and desire for new and more convenient ways to pay,” said Carlos Menendez, executive director for International Markets at MasterCard. “It also shows that payments have really moved into the heart of the shopping experience—causing frustration when not accepted and engagement when fast, easy and personal.”

The Retail Social Listening Study examined more than 1.6 million social media posts on Twitter, Facebook, Instagram, Forums, Weibo, Google+ and YouTube from July 2014 to June 2015 on the subject of shopping and retail conversations.

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Daniel Leibovitch