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.
Pyramid Research Offers Research Service Covering Best Practices in Mobile Payments
Pyramid Research identifies Mobile Payment opportunities with the Mobile Commerce Landscape Insight Pack , a new research service that combines Pyramid’s extensive database resources with high-level expert analysis.
The Mobile Commerce Landscape Insight Pack offers analysis on current trends and best practices in mobile payments in emerging and developed markets. The Mobile Commerce Landscape Insight Pack includes up-to-the-minute data and market forecasts, an in-depth research report and a live session with a senior Pyramid analyst, giving you quick and direct insight into key trends.
The service includes:
- A Research Report delivered in PDF format
- A Forecast Excel file containing all the data underlying the report
- An Insight Session via telephone to be scheduled at your convenience
More information: Pyramid Research
Global Mobile Payment Transactions to Reach $945 Billion in 2015, Says Report
The gross value of global mobile payment transactions will reach $945 billion in 2015, about a 30-fold increase from the comparable figure of $31.5 billion for 2010, according to IE Market Research (IEMR). The surge underscores IEMR’s expectation that mobile payments are positioned to become mainstream between 2012 and 2014. IE Market Research, a Canadian-based provider of market intelligence services, recently released its Q3 2011 report entitled “Global Mobile Payment Market Forecast 2011- 2015.”
“M-commerce and mobile contactless transactions, driven by their allure of convenience, are poised to promote ‘less-cash’ societies all over the world,” said Nizar Assanie, Vice President (Research) at IEMR. “Our usage surveys reflect a trend of mobile payments growing commonplace in the Western world, corroborated by the fact North American and Western European markets are geared up for the beginning stages of a full-fledged adoption of the digital wallet.”
IEMR’s Global Mobile Payment Market Forecast covers annual forecasts of mobile payment users, transactions by technology (NFC, SMS, WAP, USSD), and by type of purchase (merchandise, digital products, ticketing, mobile money transfers, bill payments, and pre-paid top-ups). The report is based on IEMR’s Global Consumer Telecommunications Survey of 50,000 mobile users in 50 markets worldwide. It is the most extensive country-specific forecast of its kind.
IEMR’s latest report illustrates a declining trend in SMS transactions relative to the growing adoption of NFC technology in developed markets, particularly Western Europe and North America. NFC offers the potential “sweet spot” of access to millions of retail point-of-sale terminals, a transaction technology that SMS falls short of.
The report also found that mobile payments are promising in emerging markets because of the dearth of wired infrastructure, which makes purchase transactions with a mobile device convenient.
According to IEMR, there were 1.5 billion NFC transactions globally in 2010. It forecast the comparable figure to jump to 55.3 billion in 2015, a compound annual growth rate of 105.2%.
Source: Business Wire
Mobile Banking and Payments Report: The Role of the Mobile Phone as a Banking Device
With over 2 billion users worldwide, mobile phone usage penetrates every core demographic of the world’s population. Research and Markets has announced the release of a new report entitled “ Mobile Banking and Payments.” The report assesses the role of the mobile phone as a banking device as well as a payment function. The report provides readers with the ability to:
- Assess the prospects for mobile banking and payments
- Learn how additional revenue can be raised through value added services
- Review the strategic and operational issues that face the mobile banking sector
- Study the profiles of leading banks within the mobile banking arena
After abandoning initial roll-outs a few years ago following poor consumer take up, banks worldwide are now re-entering the market. Mobile banking is an opportunity and a threat to established retail financial players. The first section of this report provides the business case for successful mobile banking. It presents the short-term solutions and the longer-term strategy needed to create a successful program.
Key Points Addressed in This Report:
- The mobile banking phenomenon explained.
- Trends among emerging and developed markets.
- Mobile banking and mobile payments defined.
- Reasons for low adoption by banking customers.
- Importance of mobile as a marketing tool and as a customer retention strategy.
- Negotiating the relationship between banks and mobile carriers.
Case Studies and Examples Include:
- Bank of America
- Blaze
- Charles Schwab
- Citi
- ClairMail
- Co-op Bank
- Elite mBanking
- Fi-Mobile
- First National Bank
- iTunes
- Mfoundry
- Microsoft
- Mshift
- MTN bank
- Nokia
- Paypal
- Regalo Card
- St George Mobile Banking
- Sun mBanking
- Vancity CU
- Visa
- Wells Fargo
- Wizzit bank
Key Topics Covered:
- Business case for mobile banking
- Business case for mobile banking
- Generate revenue through value added services
- Enhance other delivery channels
- Marketing via the mobile channel
- Banking the unbanked
- Strategic and operational issues
- Choosing the technology platform
- Security considerations
- Usability considerations
- Marketing considerations
- Market profiles
- USA
- South Africa
- Key emerging markets
More information: Research and Markets – “Mobile Banking and Payments Report”
Source: Business Wire
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”
NFC Mobile Contactless Payment Transactions to Reach $50 Billion Worldwide, Says Report
A new report from Juniper Research forecasts that global NFC mobile contactless payment transactions will reach nearly $50 billion worldwide by 2014. Following on from the Orange Mobile Payments service launch in the UK, 2011 and 2012 are expected to be banner years for NFC service rollouts. [Read more…]
Mobile Payments Enter A Disruptive Phase 2011
While Near Field Communication has created a lot of buzz in the mobile payment industry, it is clear that there remain significant hurdles before the technology is standard in U.S. mobile commerce.
Forrester Research recently published a report: “Mobile Payments Enter a Disruptive Phase,” excerpted below:
The pace of innovation in mobile payments is accelerating. 2011 is finally the year when Near Field Communication (NFC) will reach the hands of millions of consumers, while initiatives in the digital micropayment arena are accelerating.
While we believe that mass-market adoption of mobile payments is still years away, new entrants — be they mobile operators, alternative payment providers, or online players — have the potential to disrupt existing payment systems. Consumer product strategy professionals should anticipate different disruptive scenarios and determine the likelihood of them happening.
To define the correct strategy, be it defensive or offensive, they need to measure the convenience of their new products and services. And, at a tactical level, they shouldn’t underestimate the need to educate consumers about new payment methods.
Table of Contents
- Making Sense Of Mobile Payments
- Mobile Payments Are Disrupting The Existing Payments Landscape
- Mobile Payments: What Product Strategists Should Anticipate
Recommendations
- Anticipate Different Disruptive Scenarios And Think About Convenience
- Supplemental Material
- Related Research Documents
More information: Forrester Research.
Mobile Money: An Analysis of the Current Playing Field
Mobile Money falls into three categories:
- Mobile Remittance – Both domestic and international movement of value via mobiles.
- Mobile Information – Almost exclusively limited to bank accounts one holds or has access to.
- Mobile Payment – Authorization of payment for goods or services via 3rd party Debit / Credit systems – “the cards in your wallet on your mobile”
Mobile Payment is the utopia – But will any of these become common place? If so which and if not why not?
via GLG News.
Mobile Payments Research Report 2011: Battle in a Fragmented Market
Research and Markets has announced the addition of the “Mobile Payments – A Battle of Giants in a Fragmented Market” report to their offering.
This study spotlights the mobile payment market, provides details about the related services and their technological aspects, analyses the usages and the industrial structure with a drawn of the value chain. The report makes an in-depth look in examining several business models – for NFC, SMS, Fixed/mobile wallet & App Stores – their impacts and upcoming opportunities.
Key Questions
- What are the different mobile payment services and which technologies are being used?
- Who is using M-payment and how do they use it?
- How are this emerging market and its value chain structured?
- What are the existing business models and who is the furthest along with their deployments?
- What are the market’s key figures and what are the main forces driving development?
- What does the competition landscape look like?
- What sustainable opportunities are available to the different kind of players?
Key Topics Covered:
- 1. Executive Summary
- 2. Introduction
- 3. Market structure and key factors
- 4. Organisation & Industrial Strategy
- 5. Strategic analysis
- Tables
- Figures
Companies Mentioned:
- Amazon Mobile Payments
- American Express
- Apple
- BarclayCard
- Billing revolution
- Boku
- Carrefour
- Deutsche Telekom
- Gemalto
- McDonald
- MoBeePay
- NFC
- Nokia
- NTT docomo
- Obopay
- Orange
- PayPal
- PTC
- Sprint
- Starbucks
- Subway
- Telecom Italia
- Telefonica
- Venmo
- Verifone
- Visa
- Zong
More information: Research and Markets