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Future of Mobile Money in Europe and North America: Critical Requirements and Strategies for Success Product Image

Future of Mobile Money in Europe and North America: Critical Requirements and Strategies for Success

  • Published: July 2012
  • Region: America, Europe, North America, United States
  • 68 Pages
  • Clarion Events Ltd

This report has four areas of focus:

1. Making or accepting payments from bank accounts using mobile handset - includes payments made through non-traditional providers such as PayPal, and payments made to businesses (P2B)

2. Transferring money between individuals - using payment applications designed specifically to work with mobile handsets (Person to Person)

3. Making payments to retailers - either using contactless technology and Near Field Communications or using Cloud-based approaches that integrate with merchant management approaches

4. Merchants receiving payments using mobile handsets and devices as tills
The report looks at the impact of NFC and contactless terminals versus Cloud-based technology (“Cloud-based” defined as provision of services using existing mobile technology, together with simple card-reading devices, with the rest of the credit card acceptance process – and possibly also the acquiring process – being carried out based upon remotely hosted software). The report takes into account that the challenge from companies such as Square, PayPal, Intuit and iZettle is only partly based in the cloud using this definition, READ MORE >

About the report

About the author

STRATEGY SNAPSHOT
- Using the strategy snapshot and report
- Global “Chaopportunity”
- Behind the chaos
- Why getting mobile money right is important
- Where the market is heading
- Strat-eVis vision for mobile and banking payments
- Accelerator and brakes – standard approach, certainty and merchants
- The road ahead
- The countries most ready for rapid adoption of mobile money in Europe
- Reaching the crossroads
- Competitive battle
- Main competitive groups
- The outcome of the competitive battle
- The next destination
- Strategic recommendations
- Consider the small merchant as a strategic pivot
- High impact issues
- The threat to traditional merchant services
- Cloud, the game-changer?
- Impact of NFC versus cloud-based mobile money
- Emerging scenarios for each player as the ecosystem unblocks
- The way forward – moving quickly
- Analysis of key learning
- Recommendations for each player
- Recommendations for banks
- Recommendations for MNOs
- Recommendations for cloud-based entrants
- Recommendations for retailers
- Recommendations for regulators

MARKET OVERVIEW
- Mobile banking potential
- Longer term potential of mobile banking
- Developed world mobile banking statistics
- Use of mobile for banking in Europe
- The importance of youth and good apps
- Case Study: what makes a good banking app
- Mobile payments - 3 phases of contactless payments
- Strengths and weaknesses of mobile money
- Challenges facing mobile money and what to do about it
- How mobile money helps
- Opportunities - the real value in any mobile money payment
- Requirements to implement NFC
- Cloud-based technology and the simple ecosystem
- Simplified mobile retail payment ecosystem
- Resistors in implementing mobile money

IMPORTANT MARKET CHARACTERISTICS
- Customer needs
- m-commerce trends
- Social media commerce
- Mobile and the retail payment eco-system
- Mobile money, convenience and the consumer
- Convenience and the cloud-based payments proposition
- Regulatory interest in the payments market
Regulatory view of the cloud versus NFC approach

SPOTLIGHT ON NEAR FIELD COMMUNICATION (NFC)
- NFC – the statistics
- Factors that make NFC mobile payment most appealing
- Seeing through the NFC hype
- Dismantling the barriers to implementing NFC
- NFC models – bank, MNO, collaborative
- Estimates for NFC turn out across Europe
- Estimates for NFC payments by value
- The banking perspective on NFC
- The merchant perspective on NFC
- Benefits - why increasing numbers of EU merchants are taking up contactless payments
- Considering the competition from the merchant perspective
- Leading retailers view of NFC
- Future of the market

OVERVIEW FOR ALL 4 AREAS OF MOBILE FINANCIAL SERVICES
- Regulatory and government impact
- Global trend - insulating business against new entrants
- Global trend - acquisitions

STRATEGIC ISSUES
- Competitive landscape – the impact of challengers to established payments
- The Google challenge
- The competitor view of Google
- The game changers – Square and PayPal
- PayPal
- Square
- iZettle
- The fast follower - Apple
- Challengers - the best of the rest
- Countering the threat of cloud-based challengers
-Case study - Vodafone and Visa

COUNTRY ANALYSIS OF MOBILE AND CONTACTLESS PAYMENTS
- Developments by country
- Case study – UK adoption of new forms of banking and payment
- Spotlight on Barclaycard's Pingit app
- O2 wallet
- The bandwagon – who is on and who is off
- Country summary of readiness for contactless payments

APPENDIX
- Motivation radar detail - impact of technology on the type of player
- Report scope focus and methodology

RESEARCH SOURCES
- Mobile, e- and m-banking and payments
- Payments - general
- Regulation
- Telecommunications industry- general

Tables and Figures:

TABLES

Table 1: How to sort the chaos in EU mobile banking and personal payments
Table 2: Strat-eVis vision for consumers using mobile for banking and payments
Table 3: Strat-eVis vision for businesses using mobile for banking and payments
Table 4: Factors that will make the EU market accelerate ahead
Table 5: Factors that apply the brakes and resist development
Table 6: Factors that make neglible difference to the EU market
Table 7: Where the market for mobile banking and personal payments has taken off – facts not hype
Table 8: Fundamental nature and drivers of the innovating organisations
Table 9: 4G effect on mobile money in Europe
Table 10: Parties behind the timing of 4G in Europe
Table 11: NFC versus cloud: the battle for the small merchant
Table 12: Emerging scenario for banks and other payment organisations
Table 13: Emerging scenario for mobile network operators (MNO)
Table 14: Emerging scenario for retailers
Table 15: Strategic recommendations for banks and payment organisations
Table 16: Strategic recommendations for Mobile Network Operators (MNO)
Table 17: Emerging scenario for cloud-based entrants
Table 18: Emerging scenario for retailers
Table 19: Strategic recommendations for regulators
Table 20: The full possibilities of mobile payments and banking in the developed world
Table 21: The proportion of bank customers who use internet banking'
Table 22: US statistics show the young using mobile banking more
Table 23: Mobile banking activity in the US
Table 24: Use of mobile for banking in Europe
Table 25: Case study: iPhone app, launched in March 2012 by BBVA Compass
Table 26: The real value in any mobile money payment is found in
Table 27: Reasons for resistance of mobile money in Europe
Table 28: Consumers and the use of mobile devices for shopping and payments
Table 29: Facts and trends about mobile money in the developed world
Table 30: With cloud-based approaches there are currently two modes of convenience for the consumer and merchant
Table 31: Hot buttons for the regulators
Table 32: NFC – the statistics
Table 33: Factors that make NFC appealing
Table 34: NFC payment models
Table 35: Strat-eVis view of roll out for NFC in each country (Europe)
Table 36: Strat-eVis estimate NFC payments by value in Europe
Table 37: Merchant concerns
Table 38: Merchant benefits
Table 39: Merchant perspective of the competition
Table 40: Leading retailers view of NFC
Table 41 : Acquisitions of mobile payment solutions providers
Table 42 : Summary of Google's play so far
Table 43: Why Google is viewed as a serious challenge
Table 44: View of PayPal's mobile acceptance solution
Table 45: PayPal Here and merchant features
Table 46: Apple's patents for iWallet indicate
Table 47: Strat-eVis summarise the more important players
Table 48: Use of mobile and contactless
Table 49: Approaching the tipping point in the UK
Table 50: Summary of adoption rates of contactless payments by country
Table 51: Country detail of readiness for contactless payments
Table 52: Motivation radar detail NFC versus cloud 64-

FIGURES

Figure 1: Adoption of mobile money in Europe - leaders and followers'
Figure 2: Strat-eVis outcomes for the 4 payment
types in Europe
Figure 3: Motivation radar by player for NFC versus cloud
Figure 4: The competitive battle
Figure 5: Main competitive groups
Figure 6: Threat to heartland of conventional payment organisations, banks and MNOs
Figure 7: 3 phases of contactless payments
Figure 8: Security - areas of focus
Figure 9: How to implement NFC
Figure 10: NFC and the chain of co-operation
Figure 11: NFC based mobile retail payment ecosystem
Figure 12: Cloud-based mobile retail payment ecosystem (showing elements no longer required)
Figure 13: Resulting simplified mobile retail payment ecosystem
Figure 14: Adoption of mobile payment technologies
Figure 15: Uptake of contactless payment technologies
Figure 16: Consumer frequency of usage of contactless payments – daily or weekly basis
Figure 17: ecommerce payments – greatest use of online payments

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