CW+: Mobile payments market opportunities for business

CW+: Mobile payments market opportunities for business

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The definition of a mobile payment is often open to interpretation and can differ from source to source.    Juniper Research has a simple definition of a mobile payment as “payment for goods or services with a mobile device such as a phone, Personal Digital Assistant (PDA), or other such device.”   As is the case with other, older, payment schemes like cash, the current mobile payment market does not have a single, definitive, payment method and there  is substantial variation between what particular scheme is adopted from region to region. Mobile payment schemes vary from the remote methods, such as PRSMS (Premium Rate SMS) schemes for paying for digital content dominating in Europe, to the physical, whereby, in regions such as the Far East & China, users take their mobile phone to the physical storefront to pay for goods via contactless credit/debit card schemes.   There are many different and often competing categories of mobile payments currently available. Mobile payment applications and services are already available in most regions in a variety of formats, and where they are being adopted, either in trial or  commercial mode, the user feedback has been very favourable. The mobile payments ecosystem includes mobile operators, banks and credit card companies, retail merchants & transport operators, handset manufacturers (and their suppliers), and a whole range of new application software and system vendors, consultants and service providers entrants eager to put their innovative mobile payment solutions into the hands of mobile phone users. NFC sits at the intersection of the banking, retail, transport and mobile industries

Vendor:
ComputerWeekly.com
Posted:
21 Oct 2011
Published:
20 Dec 2010
Format:
PDF
Length:
7 Page(s)
Type:
White Paper
Language:
English
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