Nearly half of consumers worldwide (43%) have expressed interest in biometrics and other forms of authentication to improve digital payments security and 51% of those discussions were driven by advancements in facial and fingerprint recognition, reveals a new study by MasterCard.
The study, titled 'MasterCard Digital Payments Study', was conducted by the company in partnership with PRIME Research and social listening platform Synthesio. It has analysed 3.5 million conversations from the past year across several social media channels, including Facebook, Twitter, Instagram and Weibo.
Consumer enthusiasm towards the new biometric and authentication technologies in Asia Pacific, particularly in India, drives positive sentiment (66% positive) for safety and security discussions.
The study found digital wallets dominated 75% of the online discussions around payments, and that the use of in-store digital payments got two million mentions.
The activation of newer technologies such as home assistants and artificial intelligence were the second most popular payments-related topic of last year, while IoT-enabled payments were growing significantly in North America and Europe.
Commenting on the study, MasterCard vice president of digital communications Marcy Cohen said: “Technology is making the promise and the potential of a less-cash life a reality for more people every day.
“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.”