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Report: Mobile Wallets in the US – Review and Analysis

August 30, 2013 by Mobile Payment Magazine

Mobile Wallets US ReportA new report entitled Mobile Wallets: The U.S. Landscape by Mercator Advisory Group identifies U.S. mobile wallets by category and technology.

The physical wallet might someday go the way of the checkbook, used by few and no longer a necessity. Growing consumer use of smartphones is creating a market for mobile wallets capable of serving many of the same purposes physical wallets served for centuries but now are able to take advantage of a plethora of new functions made possible in an increasingly digital marketplace. [Read more…]

Filed Under: Featured, Research Tagged With: ACI Worldwide, Amazon, American Express, Apple, Apriva, AT&T, Atos Worldline, Attido Mobile, ATX Innovations, bango, BarclayCard, BarTab, BBY Solutions, Belly, Best Buy, Blackhawk Network, boku, Braintree Payment Solutions, Burger King, CashStar, Cellfire, Certify, Clutch Holdings, Coop Financial Services, Corefire, Cumberland Farms, DeviceFidelity, Discover Financial Services, Dunkin Donuts, Dwolla, eBay, Fandango, Fifth Third Bancorp, Firethorn Mobile, FIS, Fiserv, Fortumo, FreedomPay, Giftango, google, Green Dot, GrubHub, Hailo Network, iCache, Ingenico, Intuit, Isis, JVL Ventures, Kinetic Farm, Lake Trust Credit Union, Lemon, LevelUp, Live Nation Worldwide, MasterCard, MCX, mFino, mFoundry, Microsoft, MindMatics AG, Monitise PLC, mopay, Mozido, MShift, National Payment Card Association, NCR, Oberthur Technologies, Pango Shyyny USA, Paperlinks, Parkmobile USA, Payair US, PayByPhone, Paycloud, Paydiant, Paydragon, PayOne, PayPal, PreCash, Proxama, PXT Payments, QuickPay, Research in Motion, RideCell, RideCharge, SafetyPay, Salt Technology, Samsung, SCVNGER, Sears Holdings Management, Shazam, ShopKick, ShopSavvy, Sionic Mobile, SK C&C USA, Spindle, Sprint, Square, Starbucks, T-Mobile, Target, Text2Pay, TMG Financial Services, Tyfone, Uber Technologies, VeriFone Systems, Verizon, Visa

Mobile Payments Report: Opportunities and Strategies for Credit Issuers

August 14, 2013 by Mobile Payment Magazine

Mobil - Credit IssuersA new research report from Research & Markets entitled Opportunities and Strategies for Credit Issuers, examines mobile payment opportunities For US credit issuers.

The major card networks began supporting contactless payments nearly a decade ago, but consumer and merchant adoption has lagged considerably. Several startups, as well as established firms outside of the financial services industry, are marketing enhanced mobile payment services capable of causing significant disruption to the consumer payments value chain. [Read more…]

Filed Under: Research Tagged With: AT&T, Bank of America, Citibank, Device Fidelity, FIS, Fiserv, Gemalto, google, HTC, Isis, JPMorgan Chase, LG, MasterCard, MCX, Paydiant, Research and Markets, Samsung, Sprint, Starbucks, T-Mobile, U.S. Bank, Vantiv, Verizon, Visa, Wells Fargo

Mobile Payment Strategies Report: Opportunities & Markets 2011-2015

July 5, 2012 by Mobile Payment Magazine

Mobile Payment ReportA new study from Juniper Research has determined that the total value of mobile payments for digital and physical goods, money transfers and NFC (Near Field Communications) transactions will reach $670bn by 2015, up from $240bn this year. These forecasts represent the gross merchandise value of all purchases or the value of money being transferred.

The new Mobile Payment Strategies report revealed that all segments will exhibit 2x to 3x growth over the next five years. This growth will be driven by the rapid adoption of mobile ticketing, NFC contactless payments, physical goods purchases and money transfers as people in both developed and developing countries use their devices for everyday transactions. [Read more…]

Filed Under: Research Tagged With: 1-800 Flowers.com, Absa Bank, accells, Access Group, Aepona, Air Kenya, airG, Airtel, AIS, Alloy Ventures, Alternet, Amadeus, Amadeus Capital Partners, Amazon.com, Appium, Apple, Arriva Bus, Aruba Networks, AT&T, ATMU, Avea, Axis, Axis Bank, Babies “R” Us, Badoo, Banco de Oro Universal Bank, bango, Bank of Ceylon, Bank of Commerce and Development, Barclays, Battery Ventures, Bell Canada, Bell ID, Bharti, Bharti Airtel, Bharti Telesoft, BICS, BilltoMobile, bitWallet, BKM, BlackBerry Partners Fund, Bouygues, BPI, Brooks Brothers, BSI, BT, C-Sam, Cabela’s, Cebu Pacific, Celpay, Central Bank, CHARGE Anywhere, Citi, Citibank, Ciudad Mexico, Claro Group, Comviva, Copenhagen Metro, Cosmote, Credit Agricole, Credit Saison, Danal, Daylight Partners, DBS Bank, DeviceFidelity, Digby, Digby Chengdu Technology, Digital China, DN Capital, Draper Fisher Juvertson, DSB, DSB S-trains, Eagle Eye Solutions, EastNets, Easypaisa, eBay, eBay Mobile, EnStream, Equity Bank, Ericsson, Ericsson IPX, eServGlobal, EVN, EZ-Link, Ezuza, Facebook, Faulu Kenya, FINNAIR, First Data Corporation, France Telecom, Fundamo, G&D, Gameloft, Garanti Bank, Gemalto, Giesecke & Devrient, Globe, Globe Telecom, Golfsmith, google, Gtel, HBD Venture Capital, Hutch, Hypercom, IBM, ICC, ICICI, Idea, Indosat, ING, Ingenico, Intuit, IPX, Jamster, Jet Airways, JR East, JR West, Juniper Research, KASIKORNBANK, KDDI, Kenya Airways, KPN, KT, la Caixa, LG, Liberty Mutual, LINK Mobility, LMT, Lufthansa Systems, Luup, Maldives Monetary Authority, Maritz Real-Time, MasterCard, Maxis, MCB Bank, McDonalds, MCell, mChek, Meditel, Metro Company, MFIC, MGL, Minick, Miven, Mobifone, Mobilink, MobiVending, Mocapay, Monitise, MoreMagic, Morpho, Motorola, Movaya Chengdu Technology, Movaya Wireless, Movia, Movincom, Mozido, mService, mSolutions, MTN Group, MTS, MTV, Multiply, Myway, Naivas, NCR, Nearbuy Systems, NETS, Netsize, Neustar, NFO Hold, ngpay, Nokia, Nokia Siemens Network, NRJ Mobile, NTT docomo, NXP Semiconductors, Obopay, OpenMarket, Oracle, Orange, Orange Group, Orascom, Orient Corporation, Orvis, PayForIt, Paymate, PayPal, PayPal Mobile, Paytong, PesaPoint, PETCO, Philippine Airlines, Playphone, PLDT, Polaris, Polaris Ventures, PPC, PROSA, Quest Diagnostics, Rakuten, Reliance, Remgro, RIM, RiskSecure, Rogers Communications, S1 Corporation, S3 Ventures, Safaricom, Safarilink, Samsung, Sanlam, Santander, SAP Ventures, SBB, SEAIR, Sfone, SFR, Skype, SMART, Smart Communications, SmartPay, SoftBank, Softbank Mobile, Sony, Sony Ericsson, Sprint, StarHub, State Bank of India, State Bank of Vietnam, Sulake, Sumitomo Mitsui Card Co., Sun Oracle, Sybase 365, T+, TATA, Tata AIG Insurance, TDC, Tech Process Solutions, Telcel, Tele2, Telefonica, Telefonica O2, Telenor, TeliaSonera, Telma, Telus, TELUS Corp, Tetherball, The Home Depot, The NASDAQ OMX Group, The World Bank, Tigo, TIM, Toys “R” Us, Transoft, Tre, TRUE, True Move, TSYS, Twinlinx, Twitter, Uchumi, Ugg Australia, Uninor, Unwire, Utiba, Utiba Americas, Vagverket, Valista, Venda, VenFin, Venyon, VeriFone, Verisign, Vietcombank, Vietnamobile, Viettel, Vimpelcom, VinaPhone, Virgin Media, Virgin Mobile, Visa, Vision Capital, ViVOtech, Vodafone, Vodafone Qatar, Watchdata, Western Union, WIZZIT, World Bank, Yahoo!, YellowPepper, Yoigo, ZAPA, Zest Airways, Zong

Research Report: Positioning for Payments in the New Mobile-Social Technology Era

March 23, 2012 by Mobile Payment Magazine

We are at the beginning of a new technology cycle as consumer adoption of mobile and social media extends the reach of the web and integrates those media into the physical world.

Facebook is only eight years old, and yet its planned $5 billion IPO is the largest Internet IPO ever. As in every new technology cycle, network effects make room for new players and the creation—and destruction—of vast amounts of wealth.

The Gang of Four—Apple, Amazon, Facebook, and Google—is a group of network players entering the banking and payments environment. How will the strengths and weaknesses of the Gang of Four play against those of major financial institutions, payment networks, and wireless carriers? Surprisingly, PayPal rates on equal footing with the Gang of Four when it comes to innovation and emerges as a possible leader in the next tech cycle.

Research & Markets recently released a report entitled Positioning for Payments in the New Mobile-Social Technology Erathat  focuses on the relationship of brands to consumer perceptions of trust, innovation, and privacy in order to identify opportunities and threats.

Primary Questions

  • What is the newest technology cycle? Which brands are positioned to take advantage of the next cycle?
  • What models are developing that will intersect with the financial services space?
  • How will the strengths and weaknesses of the Gang of Four play against those of major financial institutions, payment networks, and wireless carriers?
  • How well do consumers trust the Gang of Four compared with the major financial institution, payment network, and wireless carrier brands when it comes to their financial information?
  • How do consumers rate the Gang of Four compared with the major financial institution, payment network and wireless carrier brands when it comes to protecting their private information?
  • Which brands are viewed as most innovative?
  • How do customers of the primary financial institutions rate their own institutions on the issues of trust, innovation, and privacy?
  • How should brands position themselves to best compete in the new technology cycle?


Methodology
The report is based mainly on data collected online from a random-sample bank benchmark panel of 5,878 consumers in December 2011. The survey targeted respondents based on proportions of gender, ethnicity, age, and income representative of those of the overall U.S. online population. The margin of sampling error is ±1.28% at the 95% confidence level.

It is also based on a survey of 5,211 consumers conducted online in October 2011 on KnowledgePanel. This sample is representative of the U.S. census demographics distribution and is recruited from the Knowledge Networks panel. Data is weighted using 18+ U.S. Population Benchmarks for age, gender, race/ethnicity, education, census region, and metropolitan status from the September 2011 Current Population Survey (CPS) and household Internet access from the October 2010 CPS Supplement. The margin of sampling error is ±1.73% at the 95% confidence level.

Table of Contents

  • Overview
  • Methodology
  • Executive Summary
  • Platforms That Are Able to Gather the Biggest User Base Usually Gain the Most Power and Wealth in Each
  • Technology Cycle
  • Mobile + Social Defines the Newest Technology Cycle
  • Wealth Is Created—and Destroyed—During Each New Technology Cycle
  • Apple, Amazon, Google, and Facebook
  • Platforms That Gather the Biggest User Base Usually Gain the Most Power and Wealth in Each Technology Cycle
  • Mobile Platform
  • Two Diverging Views of Mobile Success—Open (Google) vs Protected (Apple)
  • Social Media Platform
  • Mobile-Social Integration Opens Opportunity for Competitor to Move on Facebook
  • Game-Changing Business Models Rapidly Emerge During Times of Technological Upheaval
  • Tablets
  • Alliances Can Use Mutual Strengths and Weaknesses Can Fill Gaps to Respond Faster and with Better Products
  • Javelin TIP Model for Mobile Wallets
  • Trust
  • Apple Leads in Innovation—at Least for Now
  • Innovation
  • Privacy
  • Don’t Count out the Financial Institution’s Primary Relationship with the Consumer
  • No Brand Reaches the Gold Zone—Without an Alliance
  • Appendix
  • Related Research
  • Companies Mentioned

– Amazon, American Express, Apple, AT&T, Bank of America, Chase, Citibank, Discover, Facebook, Google, MasterCard, Microsoft, PayPal, Research In Motion, Sprint, Twitter, U.S. Bank, Verizon, Visa, Wells Fargo, zvelo

More information: Research and Markets

Filed Under: Research Tagged With: Amazon, American Express, Apple, AT&T, Bank of America, Chase, Citibank, Discover, Facebook, google, MasterCard, Microsoft, PayPal, Research in Motion, Sprint, Twitter, U.S. Bank, Verizon, Visa, Wells Fargo, zvelo

Mobile Industry Predictions Report: 2012

December 15, 2011 by Mobile Payment Magazine

The Yankee Group has just released its free 17-page 2012 Annual Predictions Report, which looks into what the future has in store for the ever-growing mobility landscape.

Overview:

The world is in transition and in the year ahead, mobile will be both the protagonist and the subject of this instability. During the last five years, networks and the information they carry have plugged more than 2 billion new participants into the mobile economy. The winners in this landscape will be those players that can scale quickly and treat each user as a unique customer.

Report Highlights:

  • The mobile gold rush is global in scale a and touches all customers. In the last five years, 2 billion new users joined the mobile revolution. Looking ahead, mobile workers and consumers will embrace tablets, mobile content and personal cloud services. At the infrastructure level, the operator imperative to monetize all-IP networks will drive investment in policy solutions.
  • Asia-Pacific takes the lead in tablet sales. Yankee Group forecasts U.S. tablet sales will total 17 million in 2011 and almost 25 million in 2012. Similarly, tablet sales in all of Europe will exceed 15 million in 2011 and reach more than 26 million in 2012. And tablet sales in the Asia-Pacific region will total 20 million this year and reach almost 39 million in 2012, more than 50 percent above the U.S.
  • Diameter signaling is taking off. Yankee Group has seen significant request for proposal/request for information (RFP/RFI) activity and expects spending on IP-based Diameter signaling to more than double between 2011 and 2012—growing from U.S.$22 million to U.S.$45 million. And overall, we see the market mushrooming to U.S.$212 million in 2015, for a whopping CAGR of 57.2 percent.
  • Personal cloud services are hitting the high-growth phase. We forecast 17 percent of professionals with three or more devices will adopt a personal cloud service for online storage, backup and synching.
  • Economic woes threaten operators. Western European operators will see churn increase from approximately 2.3 percent per month today to 2.4 percent by the end of 2012, despite operators’ ongoing efforts to migrate customers to postpaid services and long-term contracts linked to new smartphone purchases. The world is in transition and in the year ahead, mobile will be both the protagonist and the subject of this instability. During the last five years, networks and the information they carry have plugged more than 2 billion new participants into the mobile economy. The winners in this landscape will be those players that can scale quickly and treat each user as a unique customer.

For more information and to download the report: 2012 Annual Predictions Report: Mobile

Filed Under: Featured, Research Tagged With: Acer, Acme Packet, AirWatch, Alcatel-Lucent, Antenna, Apple, Asus, AT&T, BelAir, Belgacom, BoxTone, China Mobile, Cinterion, Cisco, Comcast, CorFire, Cricket, Deutsche Telekom, DeviceFidelity, DirecTV, Dropbox, Ericsson, FeedHenry, Fujitsu, Funambol, Gemalto, Giesecke & Devrient, google, Hewlett-Packard, Huawei, IBM, Intel, Kaspersky Lab, Lebara Mobile, MetroPCS, Microsoft, Motorola, Nokia, Nokia Siemens Networks, Oberthur, Openet, Orange, Pyxis, Research in Motion, Salesforce.com, Samsung, Sequent, Sierra Wireless, Sony, Sprint, Straight Talk, Symantec, Tekelec, Telecom Italia, Telefonica, Tesco, Tracfone, Traffix Systems, Tyfone, Verizon Wireless, Virgin Mobile, Vodafone, Wal-Mart, Yankee Group, Yoigo, ZTE

Isis Selects Gemalto for NFC and Mobile Payment Services

December 12, 2011 by Mobile Payment Magazine

GemaltoGemalto has been selected by Isis to secure its mobile commerce platform through Gemalto’s Allynis Trusted Service Manager (TSM) solution. Isis, the mobile commerce joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, will provide consumers and merchants with an open and secure mobile commerce platform that will revolutionize how consumers shop, pay and save. Gemalto is a leading digital security company.

“We selected Gemalto for their long-standing relationships with financial institutions and mobile operators, which includes experience in securely provisioning services over the air and issuing sensitive financial information to the consumer,” said Ryan Hughes, Chief Marketing Officer of Isis. “Gemalto’s dedication to security is unmatched in the industry and will provide the Isis Mobile Commerce Platform with the necessary infrastructure to ensure consumer and merchant confidence in the Isis Mobile Wallet.”

Isis will enable consumers to enjoy the speed, security and convenience of mobile contactless payment using NFC technology at retail outlets such as restaurants, movie theaters and drug stores. Consumers will be able to securely pay, present loyalty cards, and redeem coupons all with a tap of their phones.

“Gemalto is thrilled to support Isis in delivering the speed, security and convenience of mobile contactless payment,” added Sebastien Cano, Senior Vice-President, Gemalto North America. “Using our extensive experience with worldwide commercial deployments Gemalto has designed a solution for Isis to support mobile payment and a host of NFC services like digital couponing and loyalty programs, access control and mass transit.”

Gemalto provides personal mobile services, identity protection, payment security, authenticated online services, cloud computing access, modern transportation, e-healthcare and e-government servicesthrough its secure software, a wide range of secure personal devices, and managed services to wireless operators, banks, enterprises and government agencies.

Gemalto also provides products for electronic passports and identity cards, two-factor authentication devices for online protection, smart credit/debit and contactless payment cards, as well as subscriber identification modules (SIM) and universal integrated circuit cards (UICC) in mobile phones. In the emerging machine-to-machine applications Gemalto supplies wireless modules and machine identification modules (MIM), as well as  server platforms, consulting, training, and managed services.

The Isis consortium is a  joint venture is between AT&T Mobility LLC, T-Mobile USA and Verizon Wireless and is based in New York City. The venture is chartered with building ISIS, a national mobile commerce platform that  will be available to all merchants, banks and mobile carriers.

Source: Gemalto

Filed Under: News Tagged With: Allynis Trusted Service Manager, AT&T, Gemalto, Isis, mobile wallet, Ryan Hughes, Sebastien Cano, T-Mobile, Verizon

Why Google Wallet Will Own the Mobile Payment Space

September 22, 2011 by Mobile Payment Magazine

Almost four months after Google first revealed its new mobile payments application, Google Wallet, the app is finally rolling out to the masses this week. Unfortunately, only a few smartphones – including the Samsung (SEO: 005930) Nexus S and Nexus S 4G – currently have the revolutionary chip built in. That’s why competitor services like PayPal, Square and the ISIS platform from Verizon, AT&T and T-Mobile are hoping to swoop in and corner the mobile payment market. And many experts are predicting that they could do just that. But they’re dead wrong!

I’m not convinced that any of these services can compare to what the Google Wallet platform has to offer. And here are three reasons why…
[Read more…]

Filed Under: News Tagged With: AT&T, Google Wallet, Isis, Mobile Payment, T-Mobile, Verizon

Hidden Costs in Cell-Phone and Digital-Wallet Payment Services, Says Consumer Reports

August 2, 2011 by Mobile Payment Magazine

While Americans are still using plenty of cash, checks, credit and debit cards to pay their bills, new electronic methods such as paying by cell phone or digital wallets are emerging. Before jumping in, consumers should be aware of the disparity in loss liability and consumer protections they offer, according to Consumer Reports.

CR’s latest investigation into these new payment options finds that banks and technology companies are jostling for a greater share of the $50 billion a year in fees generated by everyday transactions. Some services by PayPal, Obopay, Square, Zong, and FaceCash already allow you to pay for purchases with your cell phone, but so-called digital wallet services are scheduled to hit the market soon.

Google said in May that it planned to launch its version this summer. At least three competing digital wallets are planned for launch later this year and in 2012: from Visa in partnership with more than a dozen banks; Isis, a joint venture of AT&T Mobility, T-Mobile, and Verizon Wireless; and PayPal Mobile’s point-of-sale technology.

“As these new forms of payment grow more popular, consumers must be careful to understand the costs, and disparities in protections associated with the promise of new convenience,” said Jeff Blyskal, sr. editor Consumer Reports.

Despite all the hype, consumers don’t seem to be clamoring to pay with their phones yet. According to a recent nationally representative survey by the Consumer Reports National Research Center, only 5 percent of survey respondents have used their cell phone to pay for day-to-day purchases in the previous month. Somewhat more use other fairly new forms of payment, including billing to their home or cell phone account (10 percent).

Most of the new electronic payment options are tied to credit and debit cards, so whatever costs consumers incur in using their plastic will transfer to the new methods. Paying by mobile phone won’t save them money. Google Wallet merchant transaction fees are the same as those charged on plastic payments, and the same is expected to be true for Visa’s digital wallet. Square and PayPal Mobile charge merchants even more than the average big bank fee, 2.75 and 2.9 percent of the transaction amount, respectively.

Among payment processors Consumer Reports looked at, only Obopay charges consumers (not merchants) an explicit flat 50-cent fee for payments over $10. You can transfer funds to your Obopay account from a bank account at no cost, but if you link a transaction to a debit or credit card, you’ll pay a 1.5 percent fee. So on a $100 payment, fees can run from 50 cents to $2.

Prepaid debit cards can be especially costly, whether you use them by themselves or link them to an alternative payment method. Many prepaid debit cards charge fees for activating and maintaining the accounts, and for transactions, balance inquiries, and reloading.

Things often go wrong during the processing of 300 million noncash payments each day. In a Consumer Reports survey, one in four Americans said they had an unauthorized charge, billing error, noncredited payment, or other problem in the last year when paying for purchases or paying bills.

A consumer’s right to get their money back when something goes wrong—errors, goods not delivered as promised, fraud — varies by the payment option used. Again, the underlying method of payment tied to your mobile device will govern their rights in such instances. Cell phone and digital wallet payment services linked to a credit card offer consumers the most protection. However, there is a large disparity in protection for services that link to prepaid debit cards and direct billing to consumers’ phone bill.

Prepaid cards offer consumers no guaranteed protections against unauthorized transactions. The cards may have some protections in their contracts, but they’re essentially voluntary and can be rescinded at any time. Visa and MasterCard prepaid-card holders may get assurances from those brands’ zero-liability policies, which protect against unauthorized use and require issuing banks to give provisional credit for losses from unauthorized use within five business days of notification. But those policies have loopholes. Visa’s doesn’t cover ATM or PIN transactions not processed by the Visa network. MasterCard’s policy offers no protection if a consumer reported two or more unauthorized events in the past 12 months, and it doesn’t cover ATM or PIN transactions.

For consumers who opt for direct-to-phone bill charges, their rights in this area are unclear. Any protections are based on the wireless carrier’s contract, and they vary widely. Consumers Union reviewed the contracts of 18 wireless carriers to find out what kind of baseline protections they contained; none provided protections for mobile payment transactions that are as strong as those guaranteed by law when consumers use a credit card or debit card.

Consumers may have some rights under state laws or public utility agency rules, but those also vary from state to state. So far, only the California Public Utilities Commission provides its state’s residents the right to reverse unauthorized charges. California consumers can also bar third parties from putting charges on their phone bill.

The bottom line—Consumer Reports offers the following advice for those considering the jump to any new form of digital payment service:

  • Before signing up for a new payment method, read the fine print and check the transaction costs.
  • Pay by credit card to get the best protections whenever you buy online or pay via cell phone, make a major purchase in a store, or worry that a seller might not deliver as promised. Avoid prepaid debit cards and billing to your telephone account.
  • Ask your carrier to block third-party charges to your landline and cell phone.
  • Take convenience claims with a grain of salt. Consider new payment choices, but separate true benefits from marketing hype.
  • Keep your mobile shopping tools independent from any branded digital wallet you might choose.

You can control the risk of loss by knowing the threats with each form of payment and taking steps to protect yourself. Don’t share your personal identification and account information, use security software and procedures for your e-commerce, and always keep cash and payment cards in a safe place.

The complete investigative report, including more information on the convenience come-on and security fraud issues surrounding new ways to pay at ConsumerReports.org or in the September, 2011 issue of Consumer Reports.

Source: PR Newswire

Filed Under: News Tagged With: AT&T, FaceCash, MobilePayment, Obopay, PayPal, Square, T-Mobile, Verizon

How ISIS Consortium Screwed Itself Out of Mobile Payments Market

July 25, 2011 by Mobile Payment Magazine

There has been a huge scrum amongst the smartphone players to capture the market for phone-based purchases. In a very surprising move, the major US-based carriers simply gave up. Isis, the mobile payment system sponsored by Verizon, AT&T and TMobile, announced that it had signed deals with Visa, MasterCard, American Express and Discover to its touch and go payment systems.

Why are US carriers not going after this incredibly lucrative market?

There’s actually a very simple reason. Payment providers require trust, and the US carriers decidedly do not have their customers’ trust.

Read more, via VentureBeat.

Filed Under: News Tagged With: American Express, AT&T, Isis, MasterCard, TMobile, Verizon, Visa

Mobile Banking Markets and Opportunities Report Announced by Research and Markets

June 29, 2011 by Mobile Payment Magazine

Research and Markets  has announced the release of a new report, entitled “M-Banking Markets and Opportunities.”

Mobile banking refers to a client-server system that is specifically designed for mobile devices, allowing banking customers to use handheld devices to access their accounts, pay bills, authorize fund transfers, or perform other activities. Like many other m-commerce services, mobile banking services can be challenging and no single company has all the expertise required to develop and deliver compelling services on its own. This report evaluates the mobile banking ecosystem and mobile banking solutions including mobile payments, provides a SWOT analysis for Visa and competitors, analyzes solutions for Visa’s weak points, discusses mobile banking implementation, and evaluates the market, applications, and methods. [Read more…]

Filed Under: News Tagged With: AT&T, BankAmericard, Citibank, CYBS, Durbin, E-Banking, First Data, GCash, google, Google Wallet, M-Banking, MasterCard, mobile banking, mobile commerce, Mobile Payments, Monitise, MPesa, Nordea, NTT docomo, Online Banking, PayPal, PlaySpan, Research and Markets, Sprint, Visa, Zynga

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