DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Mobile Payments Platforms and Markets: How High Is Up?" report to their offering.
Mobile Payments Platforms and Markets: How High Is Up? presents a framework for the assessing the U.S. mobile payments market. The report describes the current market landscape and discusses future implications for payments technology vendors, developers, merchants, and consumers. With e-commerce activity becoming the growth engine for U.S. retail sales, mobile payments technology and applications are expanding at a rapid clip to cash in on increasing consumer purchase transactions made via mobile browsers and smartphone apps.
Competition is intensifying among financial institutions, card networks, and alternative payment vendors are seeking to grab their share of mobile payments transactions, now available to both online and in-store shoppers. While the smartphone makers were first to market with the mobile apps Apple Pay, Android Pay, and Samsung Pay, financial institutions and card networks have joined with their own entries into the mobile payment universe such as Chase Pay and Citi Pay. Not to be left behind, single merchants, led by nationwide chains and franchises such as Starbucks and Dunkin' Donuts, are launching their own mobile apps with special features to meet the needs of their customer bases.
Despite early optimism that mobile payment adoption would be widespread among both merchants and consumers, various inhibiting factors are in play. Challenges to higher mobile payment utilization include systems complexity and consumers' concerns about the security of the mobile payment method. Some emerging technologies are arriving that can address the mobile pay challenges making transactions more seamless and easier to use. This research report delves into the current state of mobile payments and discusses implications and areas of opportunity for technology developers, financial vendors, and merchants.
"Mobile shoppers want more integrated features and need more engaging reasons to use mobile payments, but most payment vendors and their merchant clients have simply not yet provided that," comments Raymond Pucci, Associate Director of Research Services and author of the report.
Highlights of this research report include:
- An overview of the current state of the U.S. mobile payments landscape
- Consumer behavior preferences when considering mobile payment use
- Projections of U.S. mobile payment market volume through 2025.
- Challenges and opportunities for mobile payments in certain vertical markets
- Emerging technology that is positioned to enhance mobile payment utilization
- Recent trends from both universal and single-merchant mobile payment apps
Key Topics Covered:
1. Executive Summary
3. Mobile Payments Go Mainstream
- Android Pay
- Apple Pay
- Samsung Pay
- Chase Pay and Citi Pay
- Capital One Mobile App and Capital One Wallet
- Starbucks Closed-Loop App
4. U.S. Consumers' Mobile Payments Preferences: Results from the 2016 Survey
- Consumers Have Many Choices for Mobile Payments
- Frequent Use of Mobile Pay Is Slow to Catch On
- Apple Pay Has the Highest Frequency of Usage
- Mobile Devices and Changing Consumer Behavior
5. Author's Mobile Payment Market Projections
6. Mobile Payments Benefits from Shrinking Limitations
- Mobile Pay Adoption Still Has Hurdles
7. Tokenization Expansion Will Increase Mobile Payment Use
8. Mobile Payment Methods: Conclusions and Implications
- CVS Health
- Capital One
- Chase Bank
- Dunkin' Donuts
- FIS Global
- Whole Foods
For more information about this report visit http://www.researchandmarkets.com/research/w4rbqc/mobile_payments