Market for Mobile Payment Solutions: User Interfaces, Wallets, and Banking 2014 - 2019
Mobile payments represents a huge market opportunity and quite simply one of the most dynamic and fast-evolving arenas within the convergence of wireless and commerce. Many aspects of the mobile payments ecosystem are evolving including what people buy, how purchases are made, what devices are used, how purchases are funded, how merchants or producers are monetized, and even the identity of sellers and buyers.
Payment solutions can be categorized on the basis of the payment settlement methods, which are instant-paid, postpaid, prepaid or a combination of these. Funding methods for payments vary in accordance with many factors including type of wallet, specific solution, device used for payment, back-office systems, and more. The mobile entire value chain varies considerably from billing to funding based on many factors including vendors, specific solutions, degree of banking integration (if any), and other key factors.
This research evaluates the mobile payments ecosystem, technology, and players including payment interface systems such as NFC, mobile wallets and integration with financial institutions. The report analyzes different mobile payment interfaces, devices, and methods as well as their corresponding support systems. The report compares different vendor solutions for wireless wallet and their prospects. The report also assesses the challenges within the payment industry and defines a roadmap for mobile payments evolution through 2017.
This research includes Wireless Solutions to Improve In-store Sales, Optimize Shopper Engagement, and Combat "Showrooming", which evaluates solutions to improve in-store sales, increase shopper loyalty, and overall engagement. These solutions include mobile shopping applications, friend locator and recommended buying, location-based marketing/advertisements, embedded entertainment (also known as "gamification"), social commerce, data intelligence, and more. The report provides retailer strategies and solutions.
Mobile payments and wireless wallet forecasts through 2019
Identify key trends and challenges across the mobile payments space
Understand the role of wireless in shopping, payments and the overall commerce spectrum
Identify the key drivers, leading companies, solutions, technologies and systems for payments
Understand the use of wireless and supporting systems for digital and physical goods payments
Identify the different wallet types and understand the differing levels of integration with banking
Understand the market potential of the smartphone enabled, socially connected, entertained shopper
Understand the role of mobile as part of wider retail strategies including strategies to combat ‘showrooming’
Mobile network operators
Mobile commerce companies
Wireless device manufacturers
Merchants and producers of all types
Mobile content and application providers
Banking and other financial services companies
Mind Commerce Publishing's research methodology encompasses input from a wide variety of sources.
We rely heavily upon our Subject Matter Experts (SME) in terms of their market knowledge, unique perspective, and vision. We utilize SME industry contacts as well as previous customers and participants in our market surveys and interactive interviews.
In addition, we rely upon our extensive internal database, which contains modeling, qualitative analysis, and quantitative data. We review secondary sources and compare to our primary sources to update previous findings (for prior version reports) and/or compile baseline information for technology and market modeling.
We share preliminary models with industry contacts (select previous clients, experts, and thought leaders) to verify the veracity of initial modeling. Prior to final report production (analysis, findings, and conclusions), we engage in an internal review with internal SMEs as well as cross-expertise, senior staff members to challenge results.
We believe that forecasts should be prepared as part of an integrated process which involves both quantitative as well as qualitative factors. We follow the following 3-step process for forecasting.
Step 1 - Forecasts Input: The inputs for the present and historical revenues are derived from industry players. Financial and other quantitative data for individual sub-market categories are derived from original research and tested with interviews with major industry constituents.
Step 2 - Forecasting of Future Years: Mind Commerce extends forecasts based on a variety of factors including demand drivers as well as supply side data. Key success factors and assumptions are considered.
Step 3 - Validation of Data: The final step is to validate projections, which is accomplished in consultation with both internal and external industry experts, including both topic and regional experts. Adjustments are made to the forecasts based on factors identified throughout this process.