The U.S. seems to be moving closer to a goal of using mobile handsets to accomplish financial transactions and make purchases as several competing market players align on both technology and objectives, reports In-Stat (http://www.in-stat.com). Although 2008 will not be “the year of mobile payments” in the U.S., some progress is likely, the high-tech market research firm says.
“There is evidence that the U.S. market may overcome a crucial issue—technology incompatibility—and make progress during 2008 toward contactless payments using cellphones,” says David Chamberlain, In-Stat analyst. “Companies in several different sectors all ultimately want to deploy near field communications (NFC), the key enabling technology, into handsets as well as in merchant payment terminals.” There is also general agreement that the current generation of mobile banking services is an important first step toward accomplishing that goal.
Recent research by In-Stat found the following:
- Depending on several technology, commercial, and marketing factors, between 8 million and 30 million customers in North America will be using NFC-based contactless payments by 2012.
- Over 34 million cell phones could be used for other financial applications like online banking by 2012.
- Most of the companies involved in bringing mobile finance to the North American market have similar goals and understanding of the current market, which is critical to the development of the market.
The research, “Mobile Payments Making Progress in North America” (#IN0703758MCM), covers the North American market for mobile payments. It includes a review of recent progress in deployment of financial services in cell phones, and brief profiles of many of the companies involved with bringing those services to market, particularly in the U.S. This research is important for any company considering offering mobile payments and mobile financial services including operators, handset vendors, application developers, and semiconductor makers.
For more information on this research or to purchase it online, please visit: http://www.instat.com/catalog/wcatalogue.asp?id=231, or contact a sales representative: http://www.instat.com/sales.asp
The price is $3,495 (US).
Related Research Includes:
2007 Global Handset Market Forecast http://www.instat.com/abstract.asp?id=66&SKU=IN0703683WH
Mobile Wallet: More than M-Commerce http://www.instat.com/abstract.asp?id=231&SKU=IN0602908MCM
About In-Stat
Technology vendors, service providers, technology professionals and market specialists, worldwide, rely on In-Stat’s experienced staff and in-depth research to support critical business, product and technology decisions. In-Stat’s insights are derived from both a deep technology understanding and comprehensive research, which examines each segment of the value chain for each market. Regular and ongoing end-user demand and primary research surveys underpin much of the analysis, enabling In-Stat to provide incisive market knowledge and guidance on future market opportunities via syndicated research products, custom consulting, and advisory services.