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Mobile Payments: Emerging Trends and Future Outlook

Published By :

Timetric

Published Date : Jan 2015

Category :

Banking

No. of Pages : 61 Pages

Synopsis

  • The report examines the extent of mobile phone use for payment transactions
  • The report analyzes the percentage changes expected in payments through mobile phones until mid-2015
  • The report identifies major factors influencing increased use of mobile payments by customers
  • The report determines the key reasons behind the growth in the use and acceptance of mobile payments
  • The report identifies the preferred products associated with mobile payments
  • The report ascertains the satisfaction levels of consumers for specific mobile transactions
  • The report highlights respondents concerns over payments through mobile phones
  • The report identifies the security features anticipated by customers from mobile payment service providers

Executive summary

Mobile Payments: Emerging Trends and Future Outlook is a new report by Timetric that globally analyzes consumer perceptions of mobile payments, including the share of payments conducted through mobile phones, satisfaction levels for mobile phone transactions, and key aspects affecting growth in use of mobile payments. This report also highlights projected changes in payments through mobile phones until mid-2015, concerns about payments through mobile phones, frequently purchased product categories, and expected security features from mobile payment service providers.


Scope

The report features the opinions of industry respondents about trends in mobile payments, covering the following aspects:

  • Mobile phone payment transaction status
  • Projected changes in payments through mobile phones over the next six months
  • Key aspects affecting growth in use of mobile payments
  • Key drivers for payments through mobile phones
  • Frequently purchased product categories through mobile phones
  • Satisfaction levels for mobile phone transactions
  • Concerns over payments through mobile phones
  • Expected security features from mobile payment service providers

Reasons to buy

  • The report identifies the extent of mobile payments transactions, allowing organizations to plan strategy about mobile payment platforms.
  • The report helps readers to take strategic decisions by analyzing projected changes in payments through mobile phones over the next six months.
  • Companies will be provided information about frequently purchased product categories through mobile phones. This will help organizations to devise effective sales and marketing strategies.
  • The report highlights security features which customers expect from mobile payment service providers. This will help organizations to strengthen security framework and improve customer satisfaction.
  • The report ascertains satisfaction level of customers for specific transactions conducted by mobile phone. This will help organizations to improve service offerings by understand customers’ opinions about services offered.

Key highlights

  • The majority of respondents use mobile phones for payment transactions.
  • 31% of customers anticipate an increase of 5–25% in payments through mobile phones over the next six months.
  • Discounts and fee reductions will encourage customers to increase use of mobile payments.
  • Regardless of age group, customers view time and cost saving, and ease of use as the key drivers for payments through mobile phones.
  • The highest percentage of survey respondents from North America purchase music, video and entertainment products through mobile phones.
  • Male and female respondents are not concerned about lack of knowledge about mobile payments while making payments through mobile phones.

Methodology and sample size
Extent of mobile phone use for payment transactions
Percentage of total payment transactions through mobile phones
Projected change in payments by mobile phone over the next six months
Frequency of overseas payments through mobile phones
Factors influencing the increased use of mobile payments by customers
Key drivers for payments through mobile phones
Frequently purchased product categories through mobile phones
Satisfaction regarding mobile phone transactions
Concerns regarding mobile payment transactions
Expected security features from mobile payment service providers

Appendix

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