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.
REPORT: Global Mobile Payment Market 2015-2019
Mobile payment is a form of payment where an end-user can initiate a transaction using amobile device for goods and services through communication networks or technologies.Mobile payment allows consumers to use a mobile device to pay for goods and services instead of using cash, check, and credit/debit cards. It is also referred to as mobile money,mobile money transfer, and mobile wallet.
The report forecasts the global mobile payment market to grow at a CAGR of 36.26%, in terms of transaction volume, over the period 2014-2019. In terms of number of end-users, the market is expected to grow at a CAGR of 18.10% during the forecast period. [Read more…]
Gemalto Wristband Used in Pilot Project for Tap Payments at Sporting Event / Public Transit
Gemalto is supplying Saracens, a UK rugby union club, with prepaid wristbands that offer fans secure contactless payment for food and drink at its Allianz Park stadium in north London. The pilot project marks the first step towards deployment to all season ticket holder later this year.The new Gemalto smart wristbands also facilitate access to London’s public transport network with just a tap of the wrist, and can be used at any payment terminal displaying the contactless logo. [Read more…]
Gemalto and Tapit Collaborate for Mobile Tap-and-Buy Solution
Gemalto is working with Tapit, a platform used by global brands to transform their physical assets into interactive objects, to launch “Tapit and Buy,” a solution where the consumer taps a smartphone against a Tapit-enabled physical support, such as outdoor media posters, product packaging or in-store marketing materials, enabled by an NFC tag, QR code or beacon. They are then instantly directed to the media owner’s ecommerce site where they can buy digital content, in one click, charged to their operator phone bill.
Tapit and Buy is the first solution of its kind, leveraging Gemalto’s Netsize operator billing system and Tapit’s Cloud Platform to transform a wide range of physical assets into ‘one-tap’ mobile payment terminals. This new collaboration has an initial focus on the UK for transactions worth up to £30 for digital content such as e-publications, video, music and games.
This solution gives enterprises the opportunity to forge direct relationships with consumers via their physical assets, and measure precisely the return on investment achieved by advertising campaigns.
“Tapit and Buy gives brands access to incremental revenue opportunities through their product packaging or point of sale materials, directly associating sales with marketing,” said Tapit Founder Andrew Davis. “Gemalto’s Netsize operator billing technology ensures that payment is secure, seamless and transparent for end users, while Tapit’s platform ensures brands have full control and visibility of how their physical assets are performing in the field.”
“‘Tapit and buy’ brings a completely new dimension to how people interact and transact with brands that brings greater convenience and spontaneity to the consumer domain,” added Frédéric Deman, Senior Vice President of Netsize at Gemalto. “A host of stakeholders stand to benefit from new opportunities and revenue streams, including brands, outdoor media owners, marketing and advertising agencies, and mobile network operators seeking to sell direct to millions of potential customers.”
Source: Gemalto
Mobile Payments Report: Opportunities and Strategies for Credit Issuers
A 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…]
Digital Money in Pakistan – 2013 Report
This report by Shift Thought Ltd entitled “Digital Money in Pakistan” has been designed specifically for the use of global players such as banks, operators and technology providers. They fill a gap in the market, and although offered at a report price, this is not a run-of-the-mill paper report.
This Pakistan report is developed to a high specification in order to help experts including development organisations like CGAP, by providing little known information and detailed analysis as a one-stop reference to understand Payments Systems and Innovations in this market. [Read more…]
Report: Delineating the Mobile Value Chain – A Holistic View of Mobile Payment
As excitement surrounding mobile payments develops, most of the focus has been placed on the wallet apps such as Google Wallet and Isis jockeying for position. However, the success of a mobile payments system will depend on far more than which piece of software will be used on the most devices. A fully functional system will require the integration of a number of different factors, including POS terminals, processing, the devices themselves, and more. [Read more…]
Mobile Payment Strategies Report: Opportunities & Markets 2011-2015
A 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…]
Mobile Industry Predictions Report: 2012
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
Isis Selects Gemalto for NFC and Mobile Payment Services
Gemalto 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
New Report Focuses on NFC and Mobile Payments Landscape
There is much buzz around the growth of mobile payments in the United States, with predictions that it will hit $214 billion by 2014, according to Aite Group. But which of the many possible approaches — including integrated NFC, non-integrated contactless, bar codes, cloud-based solutions, and text messaging — is the best choice?
The Smart Card Alliance today released a white paper entitled, “The Mobile Payments and NFC Landscape: A U.S. Perspective.”
The white paper provides an overview of the current state of the market for mobile payments and NFC-enabled payment applications in the U.S., and evaluates the advantages and disadvantages of different mobile payment approaches.
“Technology is always changing, especially within the mobile and payments industries, so it is difficult to predict when and how mobile payments will become commonplace in the United States,” said Randy Vanderhoof, executive director of the Smart Card Alliance. “The goal of this white paper is to help industry stakeholders understand the current mobile payments landscape, anticipate how mobile payments are likely to change, and appreciate the opportunities that mobile payments, and particularly NFC-enabled mobile contactless payments, present.”
Some of the topics covered in this snapshot of mobile payments include:
- A description of the different types of mobile financial applications in use today
- Discussion of the different mobile payments approaches with implementation examples
- A summary of the merchant, consumer, issuer, and mobile operator requirements for NFC mobile proximity payments and the attendant benefits
- An update on the status of Near-Field Communications (NFC) mobile proximity payments infrastructure
- Evaluation of how different mobile payment approaches fulfill overall market requirements
Payments Council members involved in the development of this white paper included: Accenture; American Express; Apriva; Bank of America; Capgemini; Capital One; Connexem Consulting; CPI Card Group; Datacard Group; DeviceFidelity; Discover Financial Services; Gemalto; Giesecke & Devrient; Heartland Payment Systems; Infineon Technologies; INSIDE Secure; JPMorgan Chase; LTK Engineering Services; MasterCard Worldwide; NACHA; NagraID Security; NXP Semiconductors; Oberthur Technologies; Quadagno & Associates; Thales e-Security; WatchData Technologies USA; VeriFone; Visa Inc.; ViVOtech; and Mike Kutsch; Dale Laszig; and Chandra Srivastava.
Source: MarketWire
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