First Global Survey Assesses Mobile Payments Adoption Curve; Study's Findings Presented at CTIA's Wireless 2006 Industry Summit

LAS VEGAS--(BUSINESS WIRE)--April 4, 2006--Mobile Payments World (CTIA booth #4152) and Edgar, Dunn & Company announced results from its 2006 Mobile Payments Survey at today's CTIA Wireless 2006 NFC Technology Summit: New Mobile Consumer Services with Near Field Communications. The survey is the first study of its kind to assess the collective vision for mobile payments from global thought leaders in payments and financial services.

"Our study reveals a collective vision on how and when mobile payments will achieve critical mass, with data illuminating the key market challenges and opportunities," said Thad Peterson, director at Edgar, Dunn & Company, a global independent payments consultancy and presenter at the NFC Technology Summit.

“Our study reveals a collective vision on how and when mobile payments will achieve critical mass, with data illuminating the key market challenges and opportunities”

The survey showed that payments professionals are optimistic about the future for mobile payments, but expect it will take time for the industry to mature and develop. Significantly, more than eight out of 10 survey respondents believe that mobile payments will reach a critical mass of consumers and become as important as other types of payments, such as credit and debit cards.

Most respondents view the achievement of critical mass as a long-term proposition, at least five and perhaps more than 10 years. Only a handful of optimists thought it could be achieved within the next two years.

Key findings from the survey include anticipated adoption curves for both online and physical world mobile payments. The report provides a detailed analysis of the perceived barriers and challenges between traditional payment providers such as financial institutions and credit card schemes and newcomers into the payments value chain such as carriers and handset manufacturers.

The study highlights several significant market opportunities for replacement of cash and cards with mobile payments, including those areas where greater speed and convenience is valued such as fast food, transportation, parking, online music and tickets.

About 2006 Mobile Payments Survey

The study was implemented via an online survey questionnaire covering topics such as the adoption of mobile payments, drives of and barriers of growth, and the role of various players in the mobile payments value chain. The over 350 respondents, (representing a 9% response rate) surveyed thought leaders in mobile payments and financial services from geographic areas: 45% Americas, 37% EMEA, 18% Asia/Pacific. The study's executive summary will be available at www.edgardunn.com or www.mobilepaymentsworld.com.

About Edgar, Dunn & Company

Edgar, Dunn & Company (EDC) is an independent global financial services and payments consultancy. Founded in 1978, the firm is widely regarded as trusted advisors in the payments industry providing a full range of strategy consulting services, expertise and market insight through in-depth industry and consumer benchmarking. Global capabilities include strategy, risk management, marketing, profitability improvement, operations and new products and technologies. EDC's offices are located in San Francisco, New York, Atlanta, London, Frankfurt and Sydney and serve clients in over 30 countries on six continents. More information can be found at www.edgardunn.com.

About Mobile Payments World

Mobile Payments World's (MPW) mission is to report on the three pillars of the m-payment market: M-Payments initiated from the mobile handset, for use in the physical or virtual world; Contactless payments by NFC/Near Field Communication, as developed by market leaders like MasterCard, Visa, Nokia and Phillips; Mobile POS terminals, an area of the market with massive potential and high levels of innovation. MPW offers a fully searchable archive of global m-payment and m-commerce trials, initiatives and implementations at www.mobilepaymentsworld.com.