Abstract
New research from Mercator Advisory Service profiles multiple solutions and
forecasts growth for single-merchant wallets
Boston, MA - December 19, 2012 Every day, more is being said about the
potential value in mobile payments. Yet the struggles facing major mobile
payment solution providers such as Google and Isis are well documented. How
can a product with so much potential be so difficult to launch?
These major solution providers are attempting to develop a mobile payment
system that can theoretically be available to all consumers, accepted by all
merchants, and utilize all major payment networks -an undertaking that will
take years to accomplish. Meanwhile, a number of more focused solutions are
poised to take advantage of the value of mobile payments today. Rather than
aim for universal acceptance, these solutions focus on being accepted by only
a single merchant, drastically simplifying the process of implementation.
Mercator Advisory Group's new report, Single-Merchant Wallets: Mobile
Payments for the Immediate Future, compares single-merchant wallets with
universal ones, classifies the two major types of single-merchant mobile
wallets, and describes which merchants are in the best position to implement
the two types. The report also profiles multiple solutions currently available
for consumers and forecasts the growth pattern for single-merchant wallets,
with a particular focus on the effect of universal mobile wallet proliferation.
"Although universal mobile wallets are expected to become far more common
eventually, the current opportunities for mobile payments lie almost entirely
with single-merchant wallets," says Dave Kaminsky, analyst in Mercator
Advisory Group's Emerging Technologies Service and author of the report.
"For a number of reasons, universal mobile wallets will not be practical for
the next five or six years. This window leaves plenty of time for SMW
providers to demonstrate the value of their products to both merchants and
consumers. If they can develop enough loyalty in those groups, it is feasible
that they will survive the impact of the bigger wallets and become a factor in
mobile payments for the long term."
Highlights of the report include:
- Explanation of why universal mobile wallets take far longer to gain
traction than single-merchant mobile wallets, and how single-merchant wallets
can benefit merchants both before and after universal wallets become mainstream
- Classification of the two types of single-merchant mobile wallets and
comparison of the merchants best suited to implement each type
- Profiles of five single-merchant mobile wallet solutions on the market,
including historical details, usage statistics, and information on design and
infrastructure
- Five-year forecast of total annual transaction volume for single-merchant
mobile wallets employed by U.S. merchants
One of the five exhibits in this report:
This report is 21 pages long with five exhibits.
Companies mentioned in the report include: Bank of America, Citi,
CorFire, Dinerware, Dunkin Donuts, Facebook, Firethorn Mobile, First Data,
Google, Isis, LevelUp, mFoundry, MICROS, PNC, POSitouch, Qualcomm, Revel
Systems, SK C&C, Sprint, Square, Starbucks, Virgin Mobile.
Table of Contents
Executive Summary
Mobile Payments in the US
The Single-Merchant Wallet
Single-Merchant Wallets vs Universal Wallets
- Advantages of Universal Wallets
- Advantages of SMWs
Ideal Businesses for SMWs
Single-Merchant Wallets Currently on the Market
- Single-Retailer Wallets
- Merchant-Aggregator Wallets
Can They Last?
Conclusion
- Copyright Notice
- For more information about this report, please contact:
Figures
- Figure 1: Comparative Advantages of Single-Merchant Wallets and Universal
Wallets
- Figure 2: Characteristics of Ideal Merchant Types for Single-Retailer and
Merchant-Aggregator SMWs
- Figure 3: Total Estimated US Volume of NFC-Based Transactions
- Figure 4: Estimated US Volume of Single-Merchant Wallet Transactions
- Figure 5: Estimated US Volume of Mobile Wallet Transactions
Single-Merchant Wallets: Mobile Payments for the Immediate Future published by Mercator Advisory Group, Inc. in December 27, 2012. This report consists of 21 Pages and the price starts from US $ 2950.
