Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
The Future of Online and Mobile Payments Report
A new report, entitled “The Future of Online Mobile Payments” has been announced by Report Linker. The report provides an overview of the global online and mobile payments industry, examining the industry in terms of market size, its segments, evolution of the industry, geographic segmentation, value chain, key drivers, trends, major players, and challenges. It also examines the future of the digital payments industry in terms of convergence of devices, technologies and value chains.
Features and benefits
- Use detailed analysis of the online and mobile payments industry to identify key business opportunities.
- Access comprehensive coverage of the different segments within the online and mobile payments industry.
- * Profile the leading players in the online and mobile payments arena and understand the impact of their recent initiatives.
- Identify changes to value chains and business models, and their impact on the future development of the market.
Highlights
Business Insights anticipates that the alternate payments industry comprising online, mobile and contactless segments will post a CAGR of 17.6% over the period 2010–15, with revenues increasing from $740bn in 2010 to $2,700bn in 2015. The largest revenue generating segment of the advanced payments industry is the online payment segment.
The various industry drivers include increasing internet penetration rates, increasing fixed and mobile broadband subscriptions, ecommerce volumes, smartphone shipments, and smartphone penetration rates.
The over-riding consumer meta-theme for the industry is going to be convergence – whether of devices, technologies, or value chains. Due to this, NFC will emerge as the de facto industry standard for conducting mobile payment transactions within the next couple of years.
Key questions answered
- What are the key drivers and resistors that will impact the growth of the online and mobile payments industry?
- What is the market size and growth potential of each sub-segment of the industry? Which segment has the highest growth potential?
- Who are the key players in the online and mobile payments industry? What initiatives are they launching, what are their strategies for future success?
- How will consumer and technological trends shape the future of the digital payments industry?
More information: “The Future of Online and Mobile Payments Report”