Study Reveals What Consumers Want from Mobile Payments

A first-of-its-kind global study reveals what consumers want from the mobile payment market. According to the survey, consumers are seeking out newer, more convenient ways to pay for items.

What makes this study rather unique is the methodology used for gathering the data. Instead of directly speaking to people or conducting an online poll, MasterCard partnered with PRIME Research to gather data through a process called “social listening.” The organizations analyzed a staggering 1.6 million online conversations about shopping and retail to see how consumers really feel about their payment options.

In general, digital wallets proved to be the most convenient payment solutions, according to the unprompted online conversations. The most discussed topic across social media platforms was the availability of benefits and rewards in the shopping industry, while the acceptance of new payment forms–like digital wallets–was the second most discussed topic.

North America reported the highest percentage of positive conversations about digital wallets, as well as the highest percentage of conversations altogether about contactless payments.

Twitter was the most popular social media platform for discussing shopping and retail, but it was not the only one that the surveyors assessed. Facebook, Forums, Instagram, Weibo, Google+ and YouTube were also involved in the study.