Banking Exchange Magazine Logo

Big social hug for mobile payments

Customers shift from “What about security?” to “What’s next?”

  • |
  • Written by  Website Staff
  • |
  • Comments:   DISQUS_COMMENTS
Big social hug for mobile payments

Consumers have shifted their focus from questioning the security of mobile payments to discussing the possibilities of enhanced digital experiences on devices, according to MasterCard research.

The payments company’s study tracked 19.1 million global social media posts across Twitter, Facebook, Instagram, Forums, Weibo, Google+, and YouTube throughout 2014, up from 85,000 posts in 2012.

Socially tracking acceptance

The study results not only show a remarkable growth in volume of conversations, but a change in both the tone and focus of the social discussion.

Overall sentiment around mobile payments continues to improve. In 2014, 94% of global conversations were favorable, compared to 77% in 2013 and 70% in 2012.

The most positive conversations centered on innovation, rewards and loyalty, and convenience (91% average positive tone).

Overall, 91% of the safety and security conversations in 2014 were favorable, up from 20% in 2012, when it was the most negative topic appearing in the research.

Confusion and concern over safety and security, cited in both the 2012 and 2013 studies, have now been replaced by consumers celebrating more secure solutions.

Tokenization and biometrics, both key conversations in 2014, contributed significantly to this tipping point.

Although security conversations were among the most positive in the study, the volume of these conversations was low.

Conversations on digital innovation and the enriched experiences delivered by mobile and connected devices drove the majority (71%) of social discussions among stakeholders in 2014.

Pile on my rewards

Convenience was the most positive aspect of mobile payments (94% positive sentiment). Consumers were most excited to share specific purchases made with mobile devices, particularly how they could use them for everyday purchases.

Along with convenience, additional reward incentives—like coupon redemption and loyalty programs and points—were discussed frequently within innovation (24% of stakeholder conversations). The additional potential benefits to be integrated into mobile payment offerings reinforce consumers’ loyalty to using mobile devices (58% of conversations were driven by consumers), and point to opportunities for digital payment services.

back to top


About Us

Connect With Us


Webinar: From KYC to IDV

How three leading banks are utilizing cutting-edge
digital tools to onboard, win, and wow customers

Time/Date: June 23, 2021 11:00 a.m. ET

Digital adoption, already moving at warp speed, accelerated seven years into the future during the COVID-19 pandemic. As the number of bank branches continues to fall, with at least one study predicting all branches will disappear by 2034 (Fox Business) and foot traffic declining (Vox), today’s most innovative banks are charting a new, digital-first path to win over customers while increasing security, meeting KYC compliance requirements, and winning customers to drive revenue.

In this webinar, you’ll hear from John Baird, Founder & CEO of Vouched, Tyler Crawford, COO of Bankers Healthcare Group, Anand Sathiyamurthy, CPO of Flagstar Bank and Daniel Sheehan, Chairman & CEO of Professional Bank as they describe their vision for digital transformation and how customer expectations are changing to digital first. They’ll also explore how fostering an innovation mindset creates new ways to tackle complex KYC problems and allows them to quickly compete in new markets and win customers.


This webinar is brought to you by:
Vouched Logo