MasterCard and PRIME Research have shown the second annual global MasterCard Mobile Payments Study. The observation said that more than 13 million social media comments across Twitter, Facebook, online blogs and forums around the world.
It has shown improvement on the attitude towards mobile payments and rapid growth in consumer use and merchant acceptance. Traders carry an 88 percent positive rating with many touting mobile acceptance as a competitive advantage. As consumers increasingly turn to mobile options, merchants reluctant to accept these payments may find themselves at a disadvantage.
The research points to 2013 as the year mobile payments transitioned from “concept to adoption.” “Adopters,” or those who have used mobile payments, drove 81 percent of conversations in 2013; which is the opposite from 2012 when only 32 percent of those discussing mobile payments had used a product.
The fear in the security in the mobile payments does exist, showing that the consumers and traders have moved from “why use mobile payments?” to “which mobile payment option should be used?” In fact, 2014 may be the year when long-term mobile brand and shopping allegiances are formed, which means those considering mobile payments may be well served by getting on board.
MasterPass , MasterCard’s digital service, simplifies purchases made from connected devices including PCs, tablets and smartphones. Consumers can conveniently and securely store MasterCard and other branded credit, debit and prepaid card address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens.