Mobile Payments: Assessing the Hype and Understanding the Reality of Mobile Payments
Mobile devices are quickly reshaping the way consumers manage their financial affairs and interact with their financial services providers. While the underlying infrastructure to support all of their needs continues to evolve, financial institutions are in a unique position to have a key role in supporting payments / purchases through mobile devices. But the viral nature of all things digital will not wait. Competition and innovation from other entities are already putting
pressure on banking executives to come up with viable and secure mobile payments solutions for the digital age.
As part of Speer & Associates, Inc.’s (S&A) ongoing monitoring of the payments market, a recent opinion poll was fielded to gather insights and perspectives regarding mobile payments from professionals within the financial services industry. Insights to our poll are highlighted in the pages of this report along with our perspectives on the mobile payments environment and the likely roles that will emerge for the expected participants.
In this Special Report entitled, “Mobile Payments: Assessing the Hype and Understanding the Reality of Mobile Payments – Is Now the Time?” Speer & Associates, Inc. (S&A) discusses the trends, the right components for a viral phenomenon, mobile payments classification schemes, and new players in the marketplace.
