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Demand For Retailers To Adopt New Payment Technologies: Study

A study of social-media channels by MasterCard has revealed that shoppers are increasingly demanding simpler and more innovative ways to pay using new payment technologies.

MasterCard’s first Retail Social Listening Study, carried out in association with PRIME Research, analysed 1.6 million unprompted online conversations around shopping and retail, across 61 markets, in order to understand consumer experience over the last 12 months.

It found that retailers are seeing a shift in consumer expectations, with convenience, in particular, the most positively discussed aspect of new digital payment methods in shopping and retail-related conversations.

In addition, rewards and benefits for the consumer was also a positively discussed topic across social media when it came to shopping and retail.

“The wave of social engagement we see every time new payment innovations are rolled out truly reflects the demand and desire for new and more convenient ways to pay,” said Carlos Menendez, executive director for International Markets at MasterCard. “It also shows that payments have really moved into the heart of the shopping experience, causing frustration when not accepted, and engagement when fast, easy and personal.”

Twitter was highlighted as the most frequently used social-media platform globally when it came to online conversations about retail and shopping.

© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.

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