Global

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  • Type: Survey report
  • Date: 8/2/2011

The mobile payments technology challenge 

technology challenge
Mobile payments will take multiple forms. We asked respondents to assess five forms of mobile payment —m-wallet, m-banking, contactless card systems, online payment systems, and carrier billing.

“While we believe that a number of mobile payment solutions will gain some traction, our view is that M-Wallet represents one of the most exciting and promising payment opportunities.”

- Tudor Aw, Technology Sector Head, KPMG Europe

Only m-banking and online systems are seen as gaining traction

Most respondents were likely to say that it was still too early to predict whether or not various solutions would be widely adopted, with many also suggesting that online payment systems such as PayPal were already mainstream. Technology companies and retailers, and those in the Americas, hold this opinion to a greater extent overall — most likely owing to the fact that these systems were launched in the US and have been widely embraced by US consumers and merchants.


“M-Wallet provides the momentum to move beyond payments to participate in the entire chain of mobile commerce, from consideration and brand awareness to after-sales loyalty and care,” said Tudor Aw.

Retailers are least keen on contactless card systems

While retailers are just as likely as anyone to deem contactless card systems as mainstream today, they are more than 10 percent less likely to say that they will gain traction in their market. However, there is every indication that they are thinking about the impact on their own bottom lines, since many are already in the throes of upgrading their point of sale systems to support new solutions such as MasterCard’s PayPass or Visa’s payWave.
 

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In a global online survey of nearly 1,000 executives this report explores opportunities and barriers to the adoption of mobile payments, and provides insight into the forces shaping the mobile payments market – today and in the future.