Mobile Payment Magazine

  • The Basics
  • News
  • Research
  • Events
  • Company Profiles

Report: The US Cards and Payment Industry

November 19, 2013 by Mobile Payment Magazine

Cards & Payment Industry ReportThe US card payments channel registered marginal growth during the period 2008-2012. The nation’s positive economic outlook, need for more sophisticated prepaid and charge card products, popularity of online and mobile shopping, and an increase in per capita income supported the growth.

During this period, the channel’s market size increased at a CAGR of 1.79% in volume terms to reach 1.5 billion cards in circulation in 2012 In value terms, the channel valued US$4.9 trillion in 2012. The US card payments channel grew both in volume and value terms during the review period. In terms of transaction volume, the channel grew at a review-period CAGR of 1.79% from 1.4 billion transactions in 2008 to 1.5 billion in 2012. [Read more…]

Filed Under: Featured, Research Tagged With: Research and Markets

How Mobile Can Open The Door To $2.1 Trillion In Bill Payment

November 16, 2013 by Mobile Payment Magazine

Paying bills is an inescapable necessity for consumers, with $2.1 trillion in payments annually for just seven common types of bills in 2013, according to Javelin estimates.

The mobile bill-payment industry is in its infancy, accounting for $36 billion for those seven bills. But the first wave of consumers already is typically pulling out a smartphone or tablet to pay, and mobile bill payments are primed for rapid growth. This report, which drills into mobile bill payment to follow up Javelin’s “2013 Online Banking and Bill-Payment Forecast” in September: [Read more…]

Filed Under: Research Tagged With: Mobile Bill Payment, Mobile Payment Research, Research and Markets

Report: Mobile Payments 2013 – 2017

August 15, 2013 by Mobile Payment Magazine

This report, Mobile Payments 2013-2017 provides analysis and forecasts for the worldwide market for mobile payment services, including mobile wallet services and NFC technology.

Now published in it’s 3rd all-new edition, Mobile Payments offers you detailed analysis of international mobile commerce markets, including the growth of mobile wallet services, the highs and lows of NFC technology and the growth of mobile banking and remittance services. This detailed all-new report includes all the market sizing data and 5 year forecasts you need, plus case studies, country-market assessments, vendor profiles and more. [Read more…]

Filed Under: Research Tagged With: -DIMOCO, FreedomPay, Monitise, PayOne, Research and Markets, SAP Mobile Commerce, Telepin Software

Report: Leveraging An Omnichannel Approach To Drive $1.5B In Mobile Banking Cost Savings

August 14, 2013 by Mobile Payment Magazine

mobile-payment-report-omnichannelMobile bankers are valuable customers: rich, young, and flush with profitable bank products and services. The products and services are saving financial institution money — as the number of mobile bankers has grown, branch visitation has decreased considerably. However, mobile channels have not yet offset physical channel preference among mobile bankers.

For certain activities, mobile bankers inexplicably turn to the brick and-mortar branch at higher rates than all consumers. Identifying costly behaviors to transition to electronic channels is the first step for FIs looking to cut delivery costs. The next move is bolstering adoption of value-added services, which are not only profitable but also encourage overall use of the mobile channel.

Understanding how the mobile channel attracts consumers that use more bank resources requires analysis of these consumers’ behavior and product ownership. Drawn from robust consumer data, this report, entitled Leveraging An Omnichannel Approach To Drive $1.5B In Mobile Banking Cost Savings, provides best practices and recommendations to encourage consumers to maximize the potential of their mobile devices — and save FIs money in the process.

Primary Questions:

– What features make mobile bankers unique and valuable customers?
– To what extent has mobile banking lowered delivery costs for FIs?
– Why are mobile bankers still turning to the branch over electronic alternatives?
– Are further savings possible by encouraging the use of the mobile channel?
– Which behaviors should be targeted to encourage electronic channels over branch visitation?
– Which advanced mobile banking features are profitable for FIs and desired by customers?

Contents:
Overview
Primary Questions
Methodology
Executive Summary
Recommendations
What Sets Mobile Bankers Apart, and Why Are They Valuable?
Mobile Bankers Are Young
Mobile Bankers Are Wealthy
Mobile Bankers Are Early
Adopters
Mobile Banking Attracts New Relationships
Mobile Bankers Are Flocking to Bigger Banks
Mobile Bankers Are Adoring Mobile Apps, Which Increases Readiness for Advanced Features
Mobile Bankers Own More Profitable Financial Products and Services
Mobile Banking Adoption Is Saving FIs Money — $1.5 Billion More Can Be Saved
Why Do Mobile Bankers Go Into a Branch?
Which Behaviors Should Banks Target Among Mobile Bankers to Encourage Electronic Alternatives?
Mobile Bankers Still Turning to the Branch to Deposit Funds
FIs Can Save $1.5 Billion if Mobile Bankers Switch In-person Deposits to Mobile Once per Month
Mobile Bankers Show a Higher Preference for Using the Branch to Monitor Their Accounts
Mobile Bankers’ Use of CSRs Declines Over the Past Three Years
Further Driving Alert
Adopon Could Reduce Use of Costly Channels
Budgeting Tools Will Help Reduce Mobile Bankers’ In-Person Visits for Monitoring
Mobile Bankers Show Higher Interest in Advanced PFM
Mobile Banking Value-Added Services Can Increase Profits and Turn Mobile Bankers Into Power Users
Value-Added Services Satisfy Needs and Make Mobile Bankers More Profitable
Mobile Imaging Can Be Used to Attract Mobile Bankers
Market Prepaid Accounts to Mobile Bankers
Mobile Wallets Can Generate Revenue
Mobile Bankers Desire Location-Based Offers and Coupons
Mobile Bankers Use Mobile P2P, But Greater Adopon Is Necessary
Appendix
Related Research
Companies Mentioned

Table of Figures

Figure 1: Maximizing the Value of Mobile Bankers
Figure 2: Who Are Mobile Bankers in the U.S.?
Figure 3: Technology Attitudes of Mobile in Bankers Past 90 Days vs. Online Bankers in Past 90 Days
Figure 4: Recency of Joining Primary Bank by Mobile Bankers in Past 90 Days vs. Online Bankers vs. All Consumers (Benchmark)
Figure 5: Mobile Bankers in Past 90 vs. Non-mobile Bankers by Bank Size
Figure 6: Methods Used to Conduct Mobile Banking (2009–2012)
Figure 7: Financial Product and Service Ownership by Mobile Bankers (Past 90 Days) vs. All Consumers
Figure 8: Financial Product Ownership, Selected Products by Mobile Bankers (Past 90 Days) vs. All Consumers.
Figure 9: Percent of Mobile Bankers in Past 30 days vs. Percent of Branch Visits in Past 30 Days (2009–2013)
Figure 10: Reasons for Going to the Branch for Mobile Bankers (Past 90 Days) vs. All Consumers
Figure 11: Top 3 Channels Mobile Bankers Prefer to Conduct Financial Behaviors
Figure 12: Estimated Cost per Transaction
Figure 13: Preferred Method to Deposit Funds by Online Bankers (Past 90 Days) vs. Mobile Bankers (Past 90 Days) vs. All Consumers
Figure 14: Rates of Deposit Through Physical Branch
Figure 15: Potential Annual Savings Per Mobile Banking Customer by Converting One Monthly Deposit to Mobile
Figure 16: Channel Preference for Monitoring Balances, Accounts, and Transfers by Mobile Bankers (Past 90 Days) vs. Online Bankers (Past 90 Days) vs.All Consumers
Figure 17: Used a CSR to Perform Any Banking Function by Mobile Bankers in Past 90 Days vs. All Consumers 2011–2013 .
Figure 18: Use of Alerts in Past 90 Days by Mobile Bankers, Online Bankers, and All Consumers
Figure 19: Preferred Source for PFM for Online Bankers (Past 90 Days) vs. Mobile Bankers (Past 90 Days) vs. All Consumers
Figure 20: Likelihood to Use Advanced PFM Services if Available (Probably Would Use/Definitely Would Use) by Mobile Bankers (Past 90 Days) vs. Online Bankers vs. All Consumers
Figure 21: Interest in Using Mobile Imaging to Compare Credit Card Rates by Segments
Figure 22: Prepaid and Checking Account Ownership by Mobile Bankers and All Consumers
Figure 23: Consumer Likelihood to Opt In to Mobile Delivery of Location-Based Offers or Coupons
Figure 24: Recency of Conducting a Mobile Person-to-Person Transfer by Mobile Bankers (Past 90 Days) vs. All Consumers
Figure 25: Consumers Using Mobile Banking in Past 90 days vs. Never Used Mobile Banking by Age
Figure 26: Mobile Bankers (Past 90 Days) vs. All Consumers by Annual Income
Figure 27: Mobile Bankers (Past 90 Days) vs. Online Bankers vs. All Consumers by Investable Assets
Figure 28: Use of Bank Bill View by Mobile Bankers(Past 90 Days) vs. Online Bankers (Past 90 Days) vs. All Consumers
Figure 29: Consumer Phone Feature Use, 2010–2012

Companies Mentioned
– Chase
– Groupon

For more information, and to order: Research & Markets – Leveraging An Omnichannel Approach To Drive $1.5B In Mobile Banking Cost Savings

Filed Under: Featured, Research Tagged With: Chase, Groupon, Research and Markets

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

Report: Delineating the Mobile Value Chain – A Holistic View of Mobile Payment

September 2, 2012 by Mobile Payment Magazine

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…]

Filed Under: Research Tagged With: ACI, AJB, American Express, Apple, CASSIS International, First Data, Foursquare, Gemalto, google, Groupon, Heartland Payment Systems, Ingenico, Isis, LevelUp, mFoundry, Mobeam, Naratte, Paydiant, PayPal, Research and Markets, RIM, Samsung, SK C&C, Square, Starbucks, VeriFone, Visa, Yelp

Research Report: Mobile Payment Systems and Solutions

January 10, 2012 by Mobile Payment Magazine

Payments have been evolving for thousands of years. From the age-old bartering system, to cash, to check to electronic forms of payments, people have found innovative and more efficient ways to make a payment. This evolution has resulted in a significant shift in the current mix of consumer payments: from primarily paper-based (cash or check) to increasingly electronic (e.g. credit, debit and pre-paid) payment methods. The rate of change and the movement to electronic payments has been accelerated by the explosive growth of payments being made in non face-to-face transactions.

Billed as the future of banking, the value of financial transactions carried out through mobile phones has been pegged at $245 billion worldwide by 2014. At the same time, the number of users carrying out transactions using mobile money is expected to total 340 million by 2014, equivalent to 5% of existing mobile subscribers across the globe.

Research and Markets recently released a report entitled “Commerce on the Go: Mobile Payment Systems and Solutions.” The report evaluates mobile banking solutions, mobile banking SWOT analysis, Google Wallet SWOT analysis, competition between e-wallet solutions, and provides an analysis of the opportunities and market for mobile payments in the United States.

Audience:

– Mobile Network Operators

– Mobile Software Developers

– OSS/BSS Solution Providers

– Handset and Tablet Manufacturers

– Mobile Payment Service Providers

– Content and Applications Aggregators

– Mobile Marketing and Advertising Providers

– Telecommunications Infrastructure Providers

Report Index:

Executive Summary.
Money Transfers.
Mobile Payments Developments in Emerging Markets.
The Role of the Devices.
The Role of Mobile Operators.
Banks Role.
Technologies.
Future Trends.
Features.
E-Marketing.
Challenges.
Management Challenge.
Customers Expectations.
Security Problems.
Technical Challenges.
Solutions.
Current Mobile Payments Systems the End of the Credit Card Era and the Rise of the Wallet.
ISIS wallet.
Google Wallet and its SWOT Analysis.
Google Wallet Challenges and how to overcome it.
PayPal and Google Wallet.
Visa Wallet SWOT Analysis.
Serve by American Express E-wallet and its SWOT Analysis.
Google Wallet Verses ISIS Wallet.
Comparison between Current Wallet Systems.
Advantages of the M-payments Systems.
U.S Telecommunication Market Analysis.
Conclusions.
Worldwide Mobile Payment Market Analysis 2012-2017.
U.S Mobile Payment Market Analysis 2012-2017.
Mobile Payment Drivers for the U.S Market.
Deployment Mobile Payment System..
The Current U.S Mobile Payment Systems.
Mobile Payment Ecosystem..
Mobile Payment Models.
The Mobile Payment Methods.
Features of the Mobile Payment Ecosystem..
Bumps on the Road for M-payment.
The Features of Mobile Payments in the US and its ROI
The Conversion from Credit Cards to Mobile Payments Challenges and Opportunities.
Business Challenges.
Mobile Payment Regulatory in the U.S.
Market Potential for Mobile Phone Devices in Latin America.
The Market for Mobile Phone Devices in Latin America: 2011 – 2016.
The Latin American Mobile Market.
Introduction.
The Market in the Past.
The Market in 2004.
The Market in 2005.
The Market in 2006.
The Market in 2007 to 2010.
Conclusions.
Mobile Payment Providers in Latin America.
U.S Mobile Payment Providers Analysis.
XIPWIRE.
Advantages of XIPWIRE.
XIPWIRE vs. PayPal Mobile.
Zong.
Mopay.
Luup.
Bango.
eServGlobal

For more information: “Commerce on the Go: Mobile Payment Systems and Solutions.”

Source: Research & Markets

Filed Under: Research Tagged With: bango, eServGlobal, Luup, mobile commerce, Mobile Payments, Mobile Payments in United States, Mobile Payments in US, Mobile Payments USA Market, mopay, PayPal Mobile, Research and Markets, Xipwire, Zong

Alternative Payment Channels Report

December 14, 2011 by Mobile Payment Magazine

Research and Markets has released a new report on Alternative Payment Channels, which have changed the way consumers pay for goods and services and have paved the way for tapping into the unbanked sector across the world.

The report gives detailed insight into the huge variety of alternative payment channels currently available, and is a must for all industry stakeholders.

Key industry statistics have been compiled to give a holistic view of the major markets such as the US, UK, Italy, Germany, India and China, with a special emphasis on the opportunities available in emerging markets.

The report is largely structured into four major sections:

The alternative payment channels market: The most commonly adopted modes of payment and the emerging and niche payment channels. Further, the section also entails a detailed coverage of key drivers of alternative payments and its contribution towards financial inclusion of the unbanked sector.

Technology and infrastructure: The technological and infrastructural developments driving the innovation within the alternative payment market.

Developed markets overview: Coverage of the positioning of alternative payment channels in the developed regions, especially North America and Europe.

Emerging and developing economies: Insights pertaining to market potential/ opportunities and the growth of alternative payments. The section lays particular emphasis on the consumer spending habits regarding payment methods.

Read this report to:

  • Gauge the current market status of alternative payment channels
  • Access previously unpublished data on the alternative payments market
  • Identify the trends and innovations propelling the growth of alternative payments
  • Gain insight into technology and infrastructure supporting electronic payments
  • Scan the trends in developed markets and the opportunities in the emerging markets
  • Learn from the major players and their product portfolios
  • Analyse the overall market potential for alternative payments

The global payments market continues to evolve to a large extent due to the boom in ecommerce and in the mobile payments market. While traditional payment methods have evolved over a long period of time, developed and emerging economies are increasingly adopting alternative payment methods, which promise to provide the consumers with the ability to undertake low cost transaction in a safe and convenient way. New and innovative payment services have become faster, cheaper, more secure and practical, and better integrated to customer systems and processes.

Changing consumer spending habits and preferences, growing awareness among consumers regarding the different payment instruments available and the constant development of technology are the key factors driving the growth of alternative payments. Payments are moving from cash based to cash-less transactions, to customer not present transactions. While online payment services or e-commerce are more prominent in developed economies owing to the high penetration of internet, mobile payments have a considerable reach in emerging economies like India, China, Brazil, Kenya, etc as there are more mobile phones than bank accounts in these countries. According to the Bank of Finland’s Payment Habits and Trends Report, trends in the EU worth highlighting include the following:

  • non-cash payments are replacing cash payments
  • electronic payments are replacing paper-based payments
  • self-service is replacing branch banking
  • use of debit cards has grown faster than use of credit cards, but this may change
  • direct debits are developing slowly

These changing trends are creating opportunities for established as well as start up companies offering a plethora of alternative payment instruments. Companies like PayPal, Alipay and Google Checkout are facing severe competition from new entrants like Boku, Inkfruit, Giropay, Obopay, Zong, Gaia (a gaming and social networking site) etc. New entrants are coming up with innovative, convenient and cost effective payment options, for example Boku which offers its customers the ability to buy digital goods and services using their mobile number, and where the charge shows up in the mobile bill (either a pre-paid or monthly bill). Even banks are focusing their efforts on promoting internet and mobile banking to keep up with the competition, and retain their market share. The online and mobile payment market is expected to undergo substantial growth with even some government institutions supporting the development of alternative payment channels across various sectors.

Additionally, innovation in technology has paved way for greater competition from non bank payment service providers. The alternative payment services and technologies offered by these companies will allow consumers to make online purchases, buy virtual goods and currencies, and make personal and commercial payments etc. Though a large number of payments are still made by cash and cards, a sizable number of payments made online are via alternative payment instruments.

Payments habits are largely influenced by a country’s social-economic and technical factors. So the developed markets represent a well established consumer based for e-commerce. Among developed countries Japan is the most mature market for mobile payments, while Europe is exploring the benefits of e-commerce with SEPA promoting the use of online banking in EU regions. The US market is quite structured and mature for alternative payments but the use of mobile payments is still at nascent stage. By contrast mobile payments is forecast to grow at a slower pace in the US, as introducing mobile payments require a considerable investment in infrastructure. Here the ratio of benefits to costs is extremely low in the short run. Not only is the payment market more mature in developed economies, but the percentage of unbanked or under-banked section is also quite low.

Emerging economies represent a great opportunity for mobile payments, largely due to a much higher proportion of mobile phone ownership compared with bank accounts. Among the BRIC nations Russia is way ahead with regards to e-payments, reaching an 84% penetration level by 2002. In India the retail sector is still dominated by cash transactions, but consumers are gradually moving towards cashless transactions. Banks in India are doing their best to promote mobile banking in urban as well as rural areas. With an aim to promote cashless transactions the government there is launching some major programmes like UFID, a voucher schemes for public distribution stores. Another factor for growth of e-payment in India is increased internet subscription and access to computers on a daily basis. The internet subscriber base in India has reached 16.2 mn in 2010, a year on year growth of 19.5%. One of the bottlenecks for growth of alternative payments is China, and the contrast here between the low internet penetration rate in rural China which stands at 5.1% against 21.6% in urban areas. However, the mobile penetration rate in China is high which suggests a strong foundation for the growth of mobile payments as an alternative means of payment.

Developments in IT are another major factor driving the growth of payments channels. The growth of near-field communication technology (NFC) provides completely new interfacing possibilities, with the bandwidth of long distance wireless communication fulfilling any payment service needed at a very low cost.

Several new and important technological developments in the areas of internet and mobile banking integration, customer interfaces, and providing e-invoicing support and increased data content are under consideration or in the development stage.

Additionally, a number of companies are coming out with new and improved mobile handsets, which have all the features necessary to become the physical payment instruments of the future, and which can deliver innovative services such as e-ticketing.

With these developments will come the necessity for the standardisation of alternative payment channels and the demand to improve cross border payments processes and services. Innovative payment solutions coupled with changing consumer preferences, and the introduction of favourable payment laws are expected to drive the market for alternative payments globally.

For more information or to purchase the report, please visit: Research and Markets

Filed Under: Research Tagged With: 2pay, AcceptEmail, Adyen, Chase Paymentech, Chess, CyberSource, Failsafe Payments, First Atlantic Commerce, Mi-Pay, Research and Markets, Xsolla, yperWALLET

Mobile Commerce Solutions and Market Opportunities Report

September 16, 2011 by Mobile Payment Magazine

Mobile commerce is exploding with solutions, applications, and services driven by emerging technologies, use cases, and business models. M-commerce is quite different from traditional e-commerce as the ecosystem and value chain are more dynamic and are evolving in a different manner than e-commerce as a whole. Research and Markets recently release a report entitled “Mobile Commerce Solutions and Market Opportunities,” which bundle is the most comprehensive research covering the market for mobile commerce solutions and market opportunities. The report addresses all key aspects of mobile commerce including contactless payments via NFC and other methods, the relationship between digital advertising and commerce, the effect of social networks and location on commerce, advanced technologies for commerce, and more.

Audience:

  • Mobile Network Operators
  • Mobile Software Developers
  • OSS/BSS Solution Providers
  • Handset and Tablet Manufacturers
  • Mobile Payment Service Providers
  • Content and Applications Aggregators
  • Mobile Marketing and Advertising Providers
  • Telecommunications Infrastructure Providers

Key Topics Covered:

  • Mobile Social Commerce: Social Media + Mobile Commerce Creates Market Opportunities
  • Google + Social Commerce: Evaluating Opportunities and Business Issues
  • Top Revenue Mobile Commerce Applications 2011-2016
  • Where is the Money in Near Field Communications?
  • Mobile Commerce 2011
  • Mobile Local Search 2011 Location-based Search Market
  • Mobile Value Added Service (VAS): Markets, Applications, and Opportunities
  • Near Field Communications (NFC) Markets: Challenges, Opportunities, and Market Forecast to 2016
  • M-Banking Markets and Opportunities
  • The 2011 Ultimate Guide to Location Based Services and Applications
  • Mobile Proximity and Location Based Advertising within Reach
  • Mobile Wallet: Location-based Commerce and Peer-to-Peer Payments
  • Mobile Marketing & Advertising: Challenges and Opportunities
  • Commerce on the Go: Mobile Payment Systems and Solutions
  • Mobile Marketing & Advertising: Challenges and Opportunities
  • Digital Signatures in Mobile Commerce
  • Local Search Meets Social Search

Filed Under: Research Tagged With: mobile commerce, mobile marketing, Research and Markets

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

Next Page »

STAY INFORMED

Twitter: MobilePmnt

Tags

American Express android Apple Apple Pay AT&T Bank of America boku China Facebook Gemalto google Google Wallet Intuit iPhone Isis MasterCard mFoundry Microsoft mobile banking mobile commerce mobile conferences mobile conferences 2011 MobilePayment Mobile Payment Research 2015 MobilePayments mobile wallet NFC Nokia Obopay Orange PayPal Research and Markets Samsung SMS Sprint Square Starbucks T-Mobile Unbanked VeriFone Verizon Visa Vodafone Wells Fargo Zong
  • Home
  • About Us
  • Copyright & Terms
  • Contact
 

Loading Comments...
 

You must be logged in to post a comment.