Social Media Speaks on Digital Wallets
ETA member MasterCard recently released a study confirming that digital wallets are a topic of great interest in social media chatter. Analyzing over 3.5 million posts on Instagram, Facebook and Twitter among other platforms across 188 global markets, 75% of posts mentioning new ways to pay included digital wallets.
In 2016, mobile payments represented a low percentage of retail sales, but the interest and excitement around the platform indicates high awareness for payments options. Conversations often focused on a desire for digital wallets to incorporate rewards programs and a push toward additional transit-fare payment opportunities. Wearables earned the most buzz, followed by IoT technologies and smart assistants like the Amazon Echo or Google Home.
Digital wallet security was also frequently discussed in the social media posts, with 43% of consumers chatting about biometrics and alternate authentication methods as possibilities to replace cumbersome passwords while reducing fraud and adding convenience.
Read the full findings from MasterCard here.