Visa and PayPal top the list of consumers’ preferred mobile wallet providers at 15 percent and 13 percent, while mobile network operators Verizon and AT&T (with the Isis wallet), and Apple, are close behind, according to a report from Javelin Strategy & Research. To become a valued mobile wallet provider, consumers consider three main factors – trust, innovation, and privacy. A balanced approach of the three is more important to consumers, the report found.
The study also indicates that, while mobile payments and mobile POS purchasing experienced little adoption, there is a growing pent up demand from consumers as new mobile devices and technologies enter the market. Over 60 percent of mobile bankers are likely to adopt a mobile wallet in the next 12 months.
Providers will also have to determine which mobile point-of-sale technology – NFC, cloud, and bar code – to use. In the near-term, bar codes and cloud-based wallets are expected to proliferate, as they do not require mobile phone upgrades or merchant investments in terminals and systems. With Apple’s iPhone 5 coming soon and other new devices following the iPhone, it is expected that NFC chip technology will prevail as it offers the convenience of paying with a simple tap or wave of the phone.
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.
We have been keeping professionals in the telecoms industry up-to-date since 2000. Telecompaper is a well respected, independent research and publishing company focussed on the telecommunications industry.
3995 AA Houten
Phone: +31 30 6349600
Fax: +31 30 6349699
P.O. Box 356
3990 GD Houten
© 2000 - 2014 Telecom.paper BV. All rights reserved.
Telecompaper is a trademark of Telecom.paper BV. No part of this site can be reproduced without
the expressed permission of Telecom.paper BV. Our General Terms and Conditions can be found here.
Terms and Conditions