Page 8 - Advanced_Payments_Report_2014

ADVANCED PAYMENTS REPORT 2014 – SPONSORED BY

3. Driving mobile payments forward

A commercial transaction is meaningless without Mobile Person-to-Person
the means to pay for it. As the world moves towards Mobile person-to-person payments occupy the top place in the

digital commerce, more slowly perhaps than most of survey. This is no surprise when we observe the increasing number of
participants that exist in this category and the investment occurring
us expected, making payments secure and easy to use
in the space.
is critical for consumer acceptance.
The most successful examples of mobile P2P products are in
developing countries, e.g. M-PESA in Kenya or GCash in the
Survey responses to the question, what type of payment services are
Philippines, both MNO-led initiatives. There are also dozens of
most likely to propel consumers to use mobile devices, have been
contenders in developed markets, ranging from bank-led products
relatively stable over the past three years, with the notable exception
like Pingit in the UK or POP money in the US to start-ups looking to
of mPOS, which is now believed to be far more infuential. The chart
disrupt the industry, like Dwolla.
below summarizes the survey responses.

Types of mobile payment most likely to be the most successful over the next 2-3 years
(% of respondents that prioritised these items among the top 3)

Mobile person-to-person payments
39% 44%
40%
Mobile internet payments (for services and physical goods)
42%
46%
Mobile payments for digital goods 40%
(e.g. mobile apps, entertainment and software)
41%
Mobile phone for accepting card payments (e.g. Square, iZettle) 43%
48%
39%
16% 42%
Mobile payments for transport and transit
35%
Mobile proximity payments (with contactless or QR codes) 33%
35%
35%
Mobile bill payment 37%
36%
22%
17% 21%
Mobile parking
17%
13%
Mobile remittances 17%
13%
14%
Mobile pre-payments (mobile purchase and physical pick up in stores) 10% 13% 2014
10% 2013
9%
0%
5% 2012
10% 15%
20%
25%
30%
35%
40%
45%
50%
8 8 www.edgardunn.com | www.paymentscardsandmobile.com Edgar, Dunn & Company in association with Payments Cards and Mobile