Disqus
It used to be that the industry was thinking it’s the Near Field Communication (NFC) that is the leading contender among technologies to enable mobile payments. However, NFC has developed more slowly than anticipated, and will not offer viable large-scale mobile payment solutions for at least six years. In the meantime three existing technologies — SMS, mobile Internet and downloadable mobile applications –- have the potential to deliver what NFC cannot, at least so far.
According to ABI Research new study titled “Mobile Commerce and Payments,” the potential revenue in 2013 from mobile transactions using alternative (non-NFC) methods is about $18 billion, representing a significant opportunity for payment processors.
ABI Research examines the potential for mobile payments in four key vertical markets that will drive adoption: taxis, parking, movies, and Internet shopping. The research found that Internet shopping would account for almost three quarters of this mobile commerce revenue in 2013. A further 15% would come from parking, with the balance split about evenly between taxi fares and movie tickets.
“Companies already seizing this mobile payment opportunity include parking solutions provider Verrus, Bharti Airtel and movie theater operators in India, and notably eBay and Amazon – the world’s largest e-commerce merchants – which have enthusiastically embraced mobile transactions with very comprehensive offerings,” ABI Research’s senior analyst, Mark Beccue, added.
More information about ABI’s report is available from their website.
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
