MUSCAT: Mobile payments represented more than 30 percent of the total social media conversation around payments in the Middle East and Africa, with total mentions doubling over the prior year, according to social media conversations identified in the 2019 edition of the Mastercard Digital Payments Study.
Now in its sixth year, the study, developed in partnership with PRIME Research, analyzed more than 3.3 million conversations globally and 90,000 conversations in the Middle East and Africa from the past year across social media channels including Twitter, Facebook, Instagram and Weibo.
People are looking to newer technologies to have an impact on their lives. In the past year alone, such mentions on social media increased 30 percent globally since the last study.
- Facebook’s Clubhouse competitor rolling out in the US
- Facebook to update its community standards, clarify how it handles satirical content
- Microsoft names Satya Nadella as chairman
- WhatsApp may enable multi-device support for users with end-to-end encryption
- Future Apple Watch models could feature body temperature, blood glucose sensors
Today, nearly 20 percent of all mobile commerce payments are focused on contactless payments and mobile wallets. Beyond these primary focus areas, consumers are interested in how artificial intelligence, QR payments and wearable payments will impact their lives.
Overall, people are increasingly positive toward these newer technologies. In the Middle East and Africa, virtually all (95 percent) mobile wallet conversations were favorable, with 22 percent of posts praising the speed, efficiency and simplicity of these products.
“In the fast-evolving world of digital payments, it is crucial that we listen and understand the views of the people who ultimately use our solutions. The Mastercard Digital Payments Study highlights a willingness to adopt the latest payment technology solutions from users across the Middle East and Africa, and reinforces the increasingly important role that mobile payments play in everyday life,” said Gaurang Shah, senior vice president of Product Management, Digital Payments & Labs for the Middle East and Africa at Mastercard.
Among the conversations analyzed, consumers clearly continued to be focused on the security of their money and their data as a foundational requirement. In their posts, people recognize the value of new technologies on delivering this peace of mind across mobile payments.
According to the Study, biometrics reached a potential 111 million, driven primarily by an interest in voice payments and fingerprint scanners and tokenization – and its critical role in supporting and protecting payments of all type – was featured in conversations reaching a potential audience of 11 million viewers.