The chatter around mobile payments has almost exclusively been related to the dynamic growth potential in consumer transactions. In previous research reports, the author has discussed how the mobile communications revolution continues to advance mobile device functionality but has yet to include use of the ubiquitous devices as the primary vessels for making purchases either at the point of sale or remotely. In a new research report, Mobile Usage in Commercial Payments May Be Just Around the Corner, the author broadens the discussion to include the various channels in commercial payments where the use of mobile devices and capabilities will have an impact as we move toward 2020 and beyond.
The new research report, breaks out and defines these channels, incorporating the author’s views as to the factors driving growth, and then providing a forecast of mobile spend through the relevant channels up to 2024.
"Many of us know from personal experience about the difficulty of finding consistent mobile payment point-of-sale (POS) capabilities in our normal daily shopping and spending routines, not to mention the different experiences and general ongoing confusion with regard to EMV. But all this is gradually improving, and in light of a clear generational preference for mobile by Millennials and Gen Z, along with increasing solutions from card issuers, we see a tipping point coming," commented Steve Murphy, Director of Commercial and Enterprise Payments Advisory Service, author of the report. "Also, Let’s not forget the impact of expanding business-to-business marketplace solutions, which will help drive remote mobile spending through a natural transition in the office place over time."
Highlights of the research report include:
- Breakout descriptions of various business-to-business channels where corporate mobile solutions are used
- Growth drivers for POS and digital commerce
- Projected spend volume and growth over a 10-year timeframe.
1. Executive Summary
3. Commercial Mobile Overview
- Point of Sale (POS)
- Digital Commerce
- Mobile Banking
4. Commercial Mobile Drivers
- GSA Wants It
- Millennials and Gen Z
- Supply and Demand
5. Commercial Mobile Usage and Growth
- Additional Definitions
- Payments by Channel Category
List of Figures and Tables
Figure 1: The Commercial Mobile Landscape, 2017
Figure 2: Amazon Is Now Diving into the B2B Marketplace
Figure 3: U.S. Commercial Mobile Payments Volume and Growth Projections: 2014-2025
Table 1: U.S. Commercial Mobile Payments Volume and Growth Projections: 2015-2024
- American Express
- First Data
- JP Morgan Chase
- US Bank
- Wells Fargo