Mastercard finds surging interest in digital wallets

According to the 2017 Mastercard Digital Payments Study, digital wallets gained ground in smartphones and laptops worldwide, and topped 75 percent of conversations tracked for the study. Researchers also found increased consumer interest in new technologies devised to make shopping faster, easier and more secure, Mastercard stated, adding that virtual reality generated significant positive sentiment among respondents.

Developed in partnership with PRIME Research and Synthesio, the study is now in its fifth year. Analysts studied "more than 3.5 million conversations from the past year across several social media channels, including Twitter, Facebook, Instagram and Weibo," Mastercard said in a press release about the research.

"Technology is making the promise and the potential of a less-cash life a reality for more people every day," said Marcy Cohen, Vice President of Digital Communications at Mastercard. "This year’s study notes a change in the level of interest for new ways to shop and pay that only a few years ago would have seemed farfetched."

The company stated the "increased acceptance of digital wallets in-store, online and in-app generated more than 2 million mentions, with 84 percent of them taking place on Twitter. Beyond the payment, consumers looked forward to additional functionality like storing loyalty cards and supporting closed-loop public transportation systems." For additional details, see www.greensheet.com/newswire.php?flag=display_story&id=44284 .

Editor's Note:

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.