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 Contactless Payments Summit: Oct. 17-18, 2011, Chicago, IL
Strategic Solutions Network (SSN) will welcome an estimated 400 executives from leading retailers, banks, carriers and technology companies to attend the Mobile Contactless Payments Summit October 17-18th, 2011 at the W Chicago City Center.
The 3rd Mobile Contactless Payment Innovations Summit is part of the Alternative Payment Systems Innovations (APSI) series of conferences featuring the top visionaries in the mobile space who will examine the disruptive nature, promises and challenges of the rapidly evolving mobile payments industry.
“We have developed the agenda to focus on the most advanced and value-added developments within mobile payments. This has resulted in over threefold audience growth since our Inaugural event last October,” comments SSN CEO, Aron Barkan. “This illustrates that contactless payments is not just a trend, but will soon become a ubiquitous and universally adopted global solution.”
Conference organizers note that senior executives should incorporate a sophisticated mobile payments strategy into their overall business plan. The World Payments Report 2011 projects that mobile payments will grow globally from 4.6 billion to 15.3 billion transactions between 2010 and 2013 – at a rate of 48.8 percent per year.
Additionally, 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 $670 billion by 2015, up 178% from the $240 billion estimated for 2011.
The two-day conference features best practice case studies, keynote presentations, panel discussion and networking sessions delivered by executives from leading companies such as Paypal, Google, Walgreens, Best Buy, Groupon, MasterCard, Bank of America, Nokia, The Home Depot, Polo Ralph Lauren, Jamba Juice, Discover Network, RadioShack, National Retail Federation, Barclaycard US, Citigroup, Verizon, National Restaurant Association, American Express and others.
For more information: Payment Innovations
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