Mobile Wallet Outlook, March 2013

Mobile Wallet Outlook, March 2013This 21-page edition of The Mobile Wallet Report takes an in-depth look at merchants’ attitudes to mobile payments as well as at how mobile payments may fit into the wider strategic issue facing multi-channel merchants today — “How do we serve our customers in the smartphone era?”

Full contents

  • Retailers expect a huge rise in consumers paying by mobile phone, but most are yet to assign a budget for the move to mobile. One in five retailers say they believe mobile payments will be the dominant form of payment used by their customers in three years time. But confusion over how mobile payments technology will evolve means that few have made a decision on what kind of solution to implement — or even set a budget aside. See page 2.
  • The rise of the smartphone shopper. Smartphones are having a significant impact on how shoppers use physical stores and addressing the issue of how to combat “showrooming” and how merchants should handle the new era of “omnichannel” retailing is now a priority for retailers. See page 6.
  • Consumer education remains key to mobile wallet adoption. Consumers are increasingly making the move to mobile commerce but both awareness and trust in digital and mobile wallets remains low. To gain wider adoption, providers need to address the widespread lack of understanding of what digital and mobile wallets are, the benefits they can deliver and how they already provide consumers with the security and trust they are asking for. See page 12.

Organisations mentioned include Amazon, Apple, Auriemma Consulting Group, BSS Digital, Bankinter, Bed Bath & Beyond, Best Buy, Beyond the Box, Biedronka, CGAP, Canadian Federation of Independent Business (CFIB), ComScore, Disney, Foolproof, Foresee, GSMA, GfK Roper, Google, Intela, Interactive Advertising Bureau (IAB), Intuit, Ipsos MediaCT, Isis, JiWire, LG, Lemon, LevelUp, MCX, MasterCard, Mobeam, NCH Marketing Services, Opinium, PayPal, Petsmart, Placed, RSR Research, SAP, Samsung, SapientNitro, Square, Starbucks, Target, Toys’R’Us, Visa, VocaLink, and Walmart.

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This item is part of What's New in Payments.