Page 10 - Advanced_Payments_Report_2014
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ADVANCED PAYMENTS REPORT 2014 – SPONSORED BY




4. Wallet success factors and considerations







Consistent with last year’s results, this year respondents Value Added Services Driving
agreed that mobile payments are just one part of a the Purchase Process

successful mobile wallet. Survey respondents prioritised integration with loyalty and coupons
as the number one value added service that a mobile wallet can
As shown in the chart below, an overwhelming majority of provide. The ability to combine mobile data such as real time
location with targeted messages has signifcant value for merchants
the respondents think that mobile
wallets will need to consider the whole
purchase process and bundle payments Mobile wallet success factors
and non-payment services in order to be (% of respondents who agree or strongly agree)
successful.
Mobile wallets will increasingly need to consider the whole purchase
process and not only payments 85%
Considering the Whole Mobile wallets will need to bundle payments with non-payment
services (e.g. coupons, loyalty, ofers, transit)
Purchase Process The use of consumer data is key for the development of mobile 83%
wallets (e.g. for marketing purposes) 63%
Payment has traditionally focused on One mobile wallet for all payments 58%
solutions that target specifc channels.
One mobile wallet for all proximity payments 56%
As a result the consumer payment
One mobile wallet for all payments and all digital ID applications 44%
experience can be substantially diferent
The mobile wallet will become the preferred tool for all payments 44%
at a physical store compared to online.
Diferent mobile wallets for remote payments 39%
Consumer shopping behaviour is
continuously changing. More and more, 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
consumers are using multiple channels 100%
to complete a purchase. As depicted in
the chart below, a consumer may see a Value added services for mobile wallets most likely to be most
product in the store, use a mobile device used by consumers
to check product reviews and make the
(% of respondents that prioritised these items among the top 5)
purchase online from home (see chart
4.1, p11). Payment integrated with loyalty or coupons 78%
Bank account balance 68%
Survey respondents believe that
Electronic receipt 64%
successful wallets must be able to Price comparison tool 61%
integrate all aspects of a consumer’s Location-based specifc ofers (outside stores) 53%
purchase decision. They believe that Push in store communication and marketing ofers 39%
Pre-order and various delivery options 38%
providing access to social networks, General push marketing ofers to drive customers 37%
product reviews and product Shopping list tool 28%
information to inform the purchase Connection to social network 27%
decision will be critical to the success of 0% 10% 20% 30% 40% 50% 60%
70% 80%
mobile wallet solutions.


10 www.edgardunn.com | www.paymentscardsandmobile.com Edgar, Dunn & Company in association with Payments Cards and Mobile
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