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ADVANCED PAYMENTS REPORT 2014 – SPONSORED BY

their segment forward but most, cited for dropping the service, the nature and number of negative
“When we launched the especially in payments, fnd it reviews on service download sites is revealing. One such review
O2 Wallet 18 months difcult to stand out, creating summed it up: “Slow, painful registration, multiple passwords,
ago we were one of confusion for customers who are unclear security.”
the frst mobile wallets often attracted to the rewards
around,” the carrier ofered for signing up but defect But Not A Lack Of Demand
says in a statement on if the product does not deliver Interestingly, lack of consumer demand is less of a concern. This
its website. “Since then continuous value. is positive. Consumer demand is not often easily discernible or
lots has changed for measureable and if it were so, everyone would be able to identify
us, the market and our A recent example relates to mobile the prized opportunities.
customers. So, we’ve wallets. This category is discussed
decided to close the O2 elsewhere in this report but it is As mentioned in the introduction to this report, Apple saw consumer
Wallet to give us time to interesting to note the demise of demand for the ground breaking products it created even though
look into new and better a recent mobile wallet from the UK no survey or focus group would have uncovered it for them.
ways to help people mobile operator O2, now a part of But consumer demand does not automatically translate to consumer
manage their money on Telefonica. acceptance. The latter comes from developing products and
the move, both in the UK The wallet is to be discontinued services that are intuitive, easy to use and understand.
and abroad.” in March 2014. While there were
This remains a key challenge and appears high on the list.
organisational and other reasons

80%

80% of respondents believe mobile payments
must develop proftable business model

www.edgardunn.com | www.paymentscardsandmobile.com Edgar, Dunn & Company in association with Payments Cards and Mobile 13