SmartDebit responds to Mastercard study on mobile payments

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SmartDebit

(PRWEB UK) 6 March 2013

Mastercard’s analysis came through social media channels, tracking 85,000 posts across Twitter, Facebook, online blogs and forums, encompassing 43 markets and 26 different languages over the last six months. The study, carried out in conjunction with PRIME Research, revealed that consumers in the UK, France and Canada are the most sceptical of mobile payments.

Using sentiment analysis technology to examine the social media posts, PRIME Research reported that 28 percent of posts were positive, 66 percent were neutral and 6 percent were negative. In response to the scepticism in the UK, Mastercard said that consumers are excited about the prospects of mobile payments technology, however, that they are aware of the inconsistency amongst retailers in acceptance of the technology and the uncertainty over the timeline for market-wide availability.

Overall, the study found that most social media posts praised the features and benefits of mobile payments technology, including convenience, speed and innovation.

Constantly keeping up to date with key focuses and developments in the payment industry, Surrey-based Direct Debit processor SmartDebit commented on the research, “The research does not highlight anything out of the ordinary, it is human nature to be sceptical of things that you do not from part of your daily routine or that you do not fully understand. Mobile payments technology is no different. Low consumer awareness levels combined with security concerns and inconsistency in the acceptance of the payment method amongst retailers are all contributing factors towards this scepticism. Much like the dominance of debit cards over the past decade, we expect mobile payments to become a significant part of our lives in the coming years as more consumers gain confidence in the method.”

About SmartDebit

SmartDebit is the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit Admin cloud based portal; SmartDebit Online payer sign up; SmartDebit API integrated solution and SmartDebit Contingency.

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