Updated September 15, 2011
The 21st century gold rush in the U.S. is the consumer mobile payments market. The companies in every industry that are the first to create mobile payments technology or the ones to utilize it the best will capture new fertile markets that are ready to spend money using mobile technology that doesn't yet exist.
What are the future challenges and opportunities in consumer mobile payments technology for the leaders of the U.S. retail industry? Get the results of a KPMG survey of 1,000 executives about the future of retail consumer mobile payment technology in this article.
Retail Consumer Mobile Payments Future Challenges and Opportunities - Survey Results:
Does your company currently offer a mobile payments service or have a mobile payments strategy?
24% - Have a strategy and a current service
34% - Have a strategy but no service
30% - Have no service and no plans for one in the foreseeable future
11% - Don't know
How important do you think mobile payment is, or will be, for your company?
21% - Very important, it’s already our main activity or a key enabler
57% - Reasonably important in the future, but it’s in its infancy
20% - Not that important, unlikely to impact my company much in the next three years
2% - Not important at all, it will have no impact on my company for the foreseeable future
0% - Don’t know
When will mobile payments become mainstream in your country/region?
9% - Mainstream today
40% - 1-2 years
34% - 3-4 years
14% - 5-10 years
3% - More than 10 years
What are the prospects for success for the M-Wallet mobile payment method in your country/region?
25% - Will get major traction
64% - Early days, not sure
11% - Unlikely to do well
What are the prospects for success for the M-Banking mobile payment method in your country/region?
10% - Already mainstream
38% - Will get major traction
51% - Early days, not sure
1% - Unlikely to do well
What are the prospects for success for the Contactless Card Systems mobile payment method in your country/region?
8% - Already Mainstream
28% - Will get major traction
56% - Early days, not sure
7% - Unlikely to do well
What are the prospects for success for the Specialist Online Systems mobile payment method in your country/region?
47% - Already mainstream
25% - Will get major traction
25% - Early days, not sure
3% - Unlikely to do well
What are the prospects for success for the Carrier Billing mobile payment method in your country/region?
19% - Will get major traction
46% - Early days, not sure
26% - Unlikely to do well
What categories of players are going to have the most important roles in mobile payments for the retail industry?
73% - Credit Card Companies
68% - Telcos
65% - Specialist Online Payment Players
62% - Online Service Provider Giants
67% - Retailers/Merchants
56% - Technology Companies
32% - Others
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