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.
Mobile Proximity Payments Forecast 2015
A recent report by Mary Monahan, Javelin Strategies’ Executive Vice President and Research Director, Mobile, analyzes the U.S. mobile proximity payment market, covering payments made by consumers using a mobile device at a merchant’s physical location. Three years of actual historical data and a five-year forecast are provided. By 2019, it is projected that mobile proximity payments will total $54 billion.
The report found that Apple iOS owners are most likely to use mobile proximity payments, with a greater percentage using mobile payments, higher numbers of purchases, and greater dollar purchases than Android users.
The primary questions the 22-page report covers are:
- What is the projected size of mobile proximity retail payments through 2019?
- Who leads in proximity purchasing today? Who will lead in the next 12 months?
- Why does a substantial but shrinking number of consumers still avoid mobile purchasing?
- What is consumer receptivity for mobile card imaging, and why does that matter for card onboarding?
- How do Android and iOS smartphone owners differ in proximity purchasing?
Companies covered include Amazon, Apple, Blackhawk Network, Eat24, Google, Kofax, MCX, Microsoft, Mitek, PayPal, Samsung, Travelocity.
For more information: Javelin Strategies