Social Media Speaks on Digital Wallets
3-10-2017
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.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
