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Reportlinker Adds Is Contactless the Key that Unlocks the Potential of Mobile Payments? (Analyst Insight).

NEW YORK, May 25 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

Is Contactless the Key that Unlocks the Potential of Mobile Payments? (Analyst Insight)

http://www.reportlinker.com/p0201749/Is-Contactless-the-Key-that-Unlocks-the-Potential-of-Mobile-Payments-Analyst-Insight.html

Introduction

Card schemes and a minority of issuers are making concerted efforts to extol the virtues of contactless solutions in order to stimulate not only awareness and uptake among consumers, but to encourage implementation and promotion within retailers too.

Scope

*This brief provides an overview of the market for contactless mobile payments.

*Ovum assesses both card-based and mobile-based contactless payment mechanisms.

*The brief predominately focuses on the UK, but the conclusions are relevant to other countries.

Highlights

Trials are slowly giving way to the full roll-out of contactless payments using card technologies. However, contactless cards (and associated payment terminals) are a small proportion of the total market. Contactless-enabled mobile devices are equally rare at the present time.

Achieving detente between key parties in the value chain such as card networks, issuing banks, merchant service providers and retailers over the issue of commercial fee structures is a herculean task.

Contactless forms one pillar of mobile payments, but it is not the key one for banks to concentrate on in 2010. Instead, focus should be given to stimulating m-commerce activities.

Reasons to Purchase

*Understand the current and future development of contactless as a mobile payment mechanism.

*Gain insight into the barriers to the growth of contactless payments.

SUMMARY 2

Impact 2

Ovum view 2

Key messages 3

CONTACTLESS IN 2010: THE STORY SO FAR... 4

Trials are slowly giving way to the full roll-out of contactless 4

Contactless technology has become prevalent in other sectors 4

In mass transit, plans are being laid for converged contactless applications 5

Momentum is building behind contactless 6

Contactless-enabled mobile devices are rare 7

Debate continues over the use of contactless chips in devices 7

Contactless cards are a small proportion of the total market 8

Consumers and merchants must learn to live by the rules 9

Barclays is the UK's dominant contactless-card issuer 10

Technological differences will hamper the use of contactless 10

REMOVING BARRIERS TO CONTACTLESS PAYMENTS 11

Reaching detente between various parties is a herculean job 11

The key obstacle remains the charging structure 11

RECOMMENDATIONS 12

Recommendations for banks 12

Decide where contactless sits on the strategic roadmap 12

Use scheduled card replacement cycles to introduce contactless 13

Educate customers about the existence and usage of contactless 13

Banks should accept that contactless payments will be a niche 14

Avoid the distraction of contactless-enabled mobile devices 14

Recommendations for technology vendors 14

Vendors must offer contactless-enabled payment terminals 15

Alternative view 15

The wider use of contactless is enabled by m-commerce activities 15

APPENDIX 16

Definitions 16

Ask the analyst 16

Further reading 16

List of Tables

Table 1: Contactless cards in the UK: the numbers in context 8

List of Figures

Figure 1: In which payment technology areas are you investing in during 2010? 13

To order this report:

Payment Processing Industry: Is Contactless the Key that Unlocks the Potential of Mobile Payments? (Analyst Insight)

More Market Research Report

Check our Company Profile, SWOT and Revenue Analysis!


Nicolas Bombourg


Reportlinker


Email: nbo@reportlinker.com


US: (805)652-2626


Intl: +1 805-652-2626


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