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 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 Banking Markets and Opportunities Report Announced by Research and Markets
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…]
Partnership Between NTT DOCOMO and KT Corp Will Bring Cross-border NFC Services to Japan and South Korea
NTT DOCOMO has partnered with South Korea’s leading telecom operator, KT Corporation, to use near field communication (NFC) technologies to develop cross-border services for mobile payments, mass-transit ticketing, promotional coupons and other NFC applications. The services will launch in their respective markets of Japan and South Korea from around the end of 2012.
Through their joint Business & Technology Cooperation Committee, the two companies are developing NFC common specifications that will be incorporated in devices, networks and billing platforms for seamlessly connected mobile NFC services. Customers travelling between South Korea and Japan will access the services using compatible Android handsets embedded with contactless IC chips.
DOCOMO also plans to submit an outline of the common specifications to global industry associations and standardization bodies, such as the GSM Association.
With the ultimate goal of building an international environment for compatible NFC services, DOCOMO has formed strategic tie-ups with payment technology company brand Visa Inc., NFC chip and mobile handset manufacturer Samsung Electronics Co., Ltd. and SIM card vendor Gemalto N.V. In addition, DOCOMO will collaborate with Sumitomo Mitsui Card Co., Ltd. and bitWallet, Inc. for enhanced cross-border services.
To prepare for the services, DOCOMO and KT will accelerate development of their existing infrastructures, as well as solicit the participation of NFC-based service providers in various industries. DOCOMO has been providing NFC-based Osaifu-Keitai™ mobile-wallet services in Japan since 2004. KT has been operating a post-paid mass transit service in South Korea since 2002.
DOCOMO will demonstrate the envisioned international NFC services at its exhibition booth during Mobile World Congress 2011 in Barcelona, Spain from February 14-17.
Hyunmi Yang, Executive Vice President of KT, said, “Based on our long commercial experience in various financial-convergence services, the NFC collaboration between KT & DOCOMO will contribute to building a sustainable global ecosystem.”
Bill Gajda, Head of Visa Mobile, Visa Inc., said, “Visa has been instrumental in developing the global standard for mobile payments based on NFC technology. We welcome this project and see great value in extending the security, convenience and global interoperability of NFC-based mobile payments to consumers in Japan and Korea.”
“We are delighted to work with NTT DOCOMO by providing competitive NFC IC technology to develop an NFC ecosystem that offers retail and commercial customers a very high degree of convenience, services, interactivity and security on their mobile devices. Thus, we believe this business collaboration will lead to a market-leading solution, new innovation and broad commercial acceptance around the globe,” said Dr. Dojun Rhee, Vice President of the Marketing Team, System LSI Division, Samsung Electronics Co. Ltd.
“Gemalto is delighted to contribute its world-leading NFC expertise for DOCOMO’s deployment of cross-border mobile contactless services,” commented Tan Teck-Lee, President, Gemalto Asia.
Hideo Otsuka, General Manager of the IT Business Dept. of Sumitomo Mitsui Card Co., Ltd., said, “We’ll aggressively collaborate more with DOCOMO so that we could develop new, fascinating cross-border payment services based on NFC technologies.”
Kazumasa Miyazawa, Chief Strategy Officer, Head of the International Business Dept. of bitWallet, Inc., said, “The specifications announced today are an ideal solution for the development of NFC services worldwide. Through their adoption, we aim to introduce seamless Edy services worldwide.”
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
Global Mobile Payment Market to Reach US$264.8 Billion by 2015
Mobile payment market gained momentum in the recent years owing to introduction of efficient mobile money transfer services across several markets. Further, the widespread adoption of mobile payments in majority of the markets, especially in Asia-Pacific, and participation of global institutions in NFC (near-field communication) payment trials led to the growth of the market. Given the fact that approximately four billion mobile phone users exist across the globe with numbers increasing at a faster pace, and the figure of bank accounts is approximately pegged at about 1.6 billion, mobile payment attracts huge growth potential.
Asia-Pacific represents the largest market as stated by the new market research report on Mobile Payment (Mobile Money) Market. Rest of world comprising Latin America, the Middle East and Africa represents the fastest growing market for mobile payment (mobile money) in the world. By mobile technology type, SMS Mobile Payment segment predominates the worldwide mobile payment market, while the Near Field Communications (NFC) represents the fastest growing technology type for mobile payment.
Major players profiled in the report include Ericsson, Firethorn Holdings LLC, Harex Infotech Inc., International Business Machines Corporation, mBlox Inc., mFoundry Inc., Mobipay Systems Inc., Netsize Corporate, Nokia Corporation, NTT DOCOMO Inc., Obopay Inc., Paybox Services, Sybase Inc., Verrus Mobile Technologies Inc., and ViVOtech Inc, among others.
The report titled “Mobile Payment (Mobile Money): A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides overview of market, market trends, product overview, product developments/introductions, and recent industry activity. The study analyzes market data and analytics in terms of number of users and value sales for regions including the North America, Europe, Asia-Pacific, and Rest of World. The study also analyzes global market data in terms of value sales for mobile technology type including Near Field Communications (NFC), SMS Mobile Payment, Unstructured Supplementary Service Data (USSD), and Wireless Application Protocol (WAP).
Source: PR Web
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