Faced with growing competitive threats from non-traditional sources, such as alternative payment providers, banks around the world have aggressively swung their attention to emerging mobile platforms to defend their payments revenues, according to a new report from KPMG International.

Adding to the urgency, 84 percent of banking and financial services (FS) executives said mobile payments will have significant importance to their business within the next one to four years.  Furthermore, 73 percent suggested that mobile payments would be mainstream within the next four years. [Read more…]