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Mobile and Alternative Payments in the U.S., 3rd Edition

NEW YORK, Jan. 9, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:

 

Mobile and Alternative Payments in the U.S., 3rd Edition

http://www.reportlinker.com/p01053182/Mobile-and-Alternative-Payments-in...

 

The mobile payments industry stands at the epicenter of tremendous innovation and change, with market participants introducing a slew of emerging payments solutions—from Square to Google Wallet to Popmoney to Serve to V.me. Thanks to the widespread adoption of smartphones, the consumer audience now has the means to use them; however, they still may not be accustomed to or even well informed about the new topography of the payment landscape.

 

 

 

The industry also serves as a nexus connecting the often competing interests of wireless carriers, phone manufacturers, payments networks, merchant acquirers, card associations, point-of-sale technology providers, nonbanking payment solution providers, banks, and retailers. At stake is the transformation of the consumer wallet—and the control traditional payment players have historically had over it—as well as the possibility of new revenue streams generated by data analytics, advertising, and other value-added products and services, above and beyond merchant payment fee revenue.

 

 

 

Even with mobile payments still in its nascent stage, Packaged Facts expects U.S. remote and point-of-sale mobile payments volume to grow by 275% in 2013, a testament to the impact of current product rollouts and consumer uptake already underway.

 

 

 

Mobile and Alternative Payments in the U.S. provides industry participants with the wealth of analysis and guidance they need to stay abreast of this quickly evolving market. Report coverage includes market sizing and forecast for U.S. mobile payments, as well as a comprehensive evaluation of competitor dynamics:

 

  • Mobile payments strategies employed by the leading U.S. card associations, including American Express' prepaid card innovation and Serve digital platform innovation, Discover Financial Services' alternative payments strategy and PayPal and Google Wallet relationships, MasterCard PayPass and PayPass Wallet Services, and Visa V.me

 

  • Mobile payment solutions developed by Digital Leaders, including online commerce behemoths Amazon, Apple, Google, Facebook, Groupon and PayPal; innovative offline commerce players LevelUp and Square; the Isis Mobile Commerce Network; and retailer mobile payment strategies

 

  • Macro trends shaping the mobile payments landscape, including eCommerce growth, NFC payment growth. bill payment trends, P2P growth and associated metrics, and mobile payment fraud and security issues

 

 

In addition, Proprietary Packaged Facts consumer survey data and Experian Simmons syndicated consumer surveys provided the basis for a detailed analysis of the consumer context:

 

  • Mobile phone and smartphone ownership trends, app usage, and tablet ownership

 

  • Mobile phone usage trends pertinent to mobile payments, including mobile phone usage trending over time and related demographic analysis

 

  • Mobile payment methods (i.e. P2P, bill payment, etc.) and payment funding choices by demographic

 

  • Mobile payers' current and intended use of mobile payment, deposit and communication methods, broken out by smartphone users, non-smartphone users, mobile bankers, and mobile payers

 

  • Recent and intended use of mobile phone financial, promotional & shopping tools

 

  • Mobile phone and smart phone feature usage; smartphone share of mobile phone ownership by demographic; and voice, data and text plan penetration

 

 

 

Executive Summary

 

Report Scope

 

Market Size and Forecast

 

Macro Trends Shaping the Mobile Payments Landscape

 

Mobile Phone Usage Trends

 

Mobile banking trends

 

Mobile payments trends

 

Consumer Interest in Mobile Phone Financial, Promotional and Shopping Enhancements

 

Mobile Payments Strategies: Card Associations

 

Mobile Payments Strategies: Digital Leaders

 

Mobile Payments Strategies: Mobile Network Operators

 

Mobile Payments Strategies: Retailers

 

Chapter 1: Overview

 

Mobile financial services: banking and payments

Mobile financial services

 

Mobile banking

 

Mobile payments

 

 

Mobile payment technologies

SMS text messaging

 

WAP

 

RFID

 

NFC

 

2D Barcode

 

Mobile payment funding options

 

 

Online and offline payment methods/players

 

Chapter 2: Market Size and Forecast

 

Summary analysis

 

Mobile payments set for takeoff—but only after some dust settles

Worldwide mobile payment growth

 

 

The U.S. market

 

Mobile payment usage is on the uptake

 

But payment frequency remains low

Table 2-1: U.S. Mobile Payment Transaction Value, 2012-2016

 

 

Growth drivers

Piggybacking on online banking and bill payment

 

Giving merchant acceptance a shot in the arm

 

Non-banking mobile payments players transitioning online account goldmine to offline arena

 

Leapfrogging the near-term NFC hurdle

 

Awareness and education set to rise

 

Convenience/portability

 

Greater payment flexibility

 

 

Growth inhibitors

Too many cooks spoil the broth

 

Technology standardization

 

Security and fraud

 

 

On the fence

Speed

 

Financial service provider fees

 

 

Chapter 3: Macro Trends Shaping Mobile Payments Landscape

 

Mobile phone usage nears saturation

Graph 3-1: Mobile Phone Users and Usage Penetration, 2004-2012

 

 

Smartphone shares reaches majority status

 

Smartphone share passes 50%

Table 3-1: Consumer Mobile Phone Ownership, Smartphone Ownership and Ownership Share, 2012

 

 

Past the tipping point—onward and upward

 

Apps and more apps

Graph 3-2: iTunes Music and App Store Downloads

 

 

Tablet usage share triples in less than 18 months

Table 3-2: Tablet Ownership, Spring 2011-Summer 2012

 

 

Tablet and smartphone demographic synergy

Table 3-3: Consumer Tablet Ownership, by Demographic, Summer 2012

 

 

E-commerce gains

Graph 3-3: Quarterly E-Commerce Retail Sales, Percentage Growth, and Percent of Retail Sales, 2003-2012

 

 

NFC: low penetration to high penetration—but when?

 

A small merchant footprint

 

Contactless a small ripple in a big pond

 

PayPass merchant adoption at 400,000

 

Bottom line: incremental growth does not a revolution make

 

Looking down the road: 2015 will tell a different story

 

An EMV nudge

 

Consumer bill pay methods: mail continues to dwindle

 

Among alternatives, online bill pay rising fastest

Graph 3-4: Consumer Bill Pay Preferences: Forms Used, 2007-2012

 

 

Online banking and bill pay add more users

Graph 3-5: Online Banking and Bill Payment: Household Usage, 2002-2011

 

 

Eyeing P2P

Players

 

 

The P2P usage universe

Table 3-4: Domestic and International Person-to-Person Money Sending/Receipt, 2010-2012

 

 

U.S. mail dominates; Western Union, Money Gram and PayPal are key players

Table 3-5: Domestic Person-to-Person Money Sending/Receipt: By Method, 2010-2012

 

Lots of checks and cash left to convert

95% of dollar value in cash and checks!

 

 

Mobile banking usage lags awareness

Graph 3-6: Mobile Banking Feature Awareness vs. Use

 

 

Security and fraud concerns holding adoption back

 

Security concerns thwart use of mobile banking

 

Specific mobile banking security concerns

Graph 3-7: Mobile Banking Feature Awareness vs. Use

 

 

But can mobile payments actually be more secure than traditional payments?

 

Mobile phone as fraud reducer

Dynamic authentication

 

Password-protect phone and payment app

 

Facial recognition

 

 

Am I protected? It depends on the funding

 

If protection level is not tied to phone, then what's the problem?

 

Security in the Cloud

Pros

 

Cons

 

Reducing fraud

 

 

Google Wallet vulnerability: fire flared up, then put out

 

Reaching the unbanked

 

Mobile phones can help them connect more deeply to financial services

 

It's more a question of data plan and internet usage, not access

Table 3-6: All Consumers vs. Unbanked Consumers: Cell Phone Usage, Cell Phone Text Messaging, Web Browsing, Data Plan, App and Operating System Usage/Population, Tablet

 

Ownership/Population, and Online Banking Usage/Population, 2012

 

 

And the underbanked

Convenience a mobile banking driver

 

 

 

Chapter 4: Mobile Phone Usage Trends

 

Summary analysis

 

Mobile phone ownership nears saturation point

Graph 4-1: Mobile Phone Ownership and Ownership Penetration, 2004-2012

 

 

Increasing variety of features making their way onto mobile phones

 

Texting usage nears 60%

 

Camera/picture phone use bodes well for remote check deposit

Table 4-1: Mobile Phone Features and Services Penetration, 2007-2012

 

 

Feature engagement

Downloading apps, GPS and camcorder phone engagement above 50%

 

Graph 4-2: Mobile Phone Feature Usage and Engagement: By Feature, 2012

 

 

Data plans attached to a third of mobile phones

Graph 4-3: Share of Mobile Phone Owners with Limited and Unlimited Voice, Data and Text Plans, 2012

 

 

Mobile phone usage and smartphone usage share

 

Smartphone share passes 50%

Youth, higher income consumers and racial/ethnic minorities lead the way

 

Table 4-2: Consumer Mobile Phone Ownership, Smartphone Ownership and Ownership Share, 2012

 

 

Smartphone users vs. non-smartphone users: feature usage, bill and downloads

Texting carries across smartphones and non-smartphones

 

Data-driven feature usage is smartphone dependent

 

Strong feature-driven user base for mobile payments providers to target

 

Table 4-3: Feature Usage, Phone Bill and App Download Frequency: Smartphone Users

 

vs. Non-Smartphone Users, 2012

 

25-34s drive usage, but internet, text and e-mail penetration implies broad target population

 

Table 4-4: Smartphone User Feature Usage, Phone Bill and App Download Frequency: By Age Bracket, 2012

 

Usage consistent across incomes despite significant billing differences

 

Table 4-5: Smartphone User Feature Usage, Phone Bill and App Download Frequency: By HH Income, 2012

 

 

Chapter 5: Mobile Banking Trends

 

Summary analysis

 

Mobile bankers

 

25-34s and non-whites pivotal demographics

Table 5-1: Mobile Banking: Usage Penetration, 2012

 

 

Mobile banking features and services

Almost 50 million using phone to check account balance/recent transactions

 

Remote check deposit is quickly gaining traction

 

Table 5-2: Mobile Banking Features and Services Usage Penetration and Population: U.S. Population, Mobile Phone and Smartphone Users, 2012

 

 

Mobile bankers = smartphone users

Table 5-3: Mobile Banking and Mobile Banking Frequency: Mobile Phone, Smartphone and Non-Smartphone Users, 2012

 

 

Chapter 6: Mobile Payments Trends

 

Summary analysis

 

Mobile payers

 

Gaining a foothold

Table 6-1: Mobile Payments Usage Penetration, 2012

 

 

But marked by infrequent use

Table 6-2: Mobile Payments Per Month, 2012

 

 

Mobile payment methods

Bill payment has widest usage footprint

 

P2P taking hold

 

1 in 10 tapping phone at POS; using virtual wallets

 

Table 6-3: Mobile Payment Methods, 2012

 

It's a generational issue more than a financial one

 

Table 6-4: Mobile Payment Methods: Analysis by Gender, Age and HH income, 2012

 

 

Payment cards prevailing funding option, followed by bank account and PayPal

Table 6-5: Mobile Payments Funding Sources, 2012

 

Youth and money

 

Table 6-6: Mobile Payments Funding Sources: Analysis by Gender, Age and HH income, 2012

 

 

Past 12 months vs. next 12 months: mobile payment, deposit and communication methods

Current state of affairs

 

Future state of affairs

 

Graph 6-1: Mobile Payers' Mobile Payment, Deposit and Communication Methods:

 

Current vs. Intended Use, 2012

 

 

Interest during next 12 months

Interest more prevalent among smartphone users

 

Table 6-7: Interest in Mobile Phone Payment, Deposit and Communication Methods in Next

 

12 months: Mobile Phone, Smartphone and Non-Smartphone Users, 2012

 

Mobile bankers and mobile payers express similar interest

 

Table 6-8: Interest in Mobile Phone Payment, Deposit and Communication Methods in Next

 

12 months: Mobile Phone Users, Mobile Bankers and Mobile Payers, 2012

 

 

65+ smartphone users could benefit from barcode scanning app

Table 6-9: Interest in Mobile Payment by Text, Barcode Scan and Web Browser in Next 12 Months: Smartphone Users vs. Non-Smartphone Users by Demographic, 2012

 

 

Hispanic intention to tap phone at POS lags average

Table 6-10: Interest in Mobile Payment by App, POS Tap and Picture Bill Payment in Next 12 Months: Smartphone Users vs. Non-Smartphone Users by Demographic, 2012

 

Intended use of picture check deposit among 35-44s lag average

 

Table 6-11: Interest in Picture Check Deposit and Two-Way Alerts in Next 12 Months: Smartphone Users vs. Non-Smartphone Users by Demographic, 2012

 

 

Chapter 7: Consumer Interest in Mobile Phone Financial, Promotional and Shopping Enhancements

 

Summary analysis

 

Introduction

 

Mobile Phone Financial and Promotional Organization

 

Mobile Financial and Promotional Organization Tools: Current Use and Future Use

Graph 7-1: Mobile Payers: Current and Future Use of Mobile Financial and Promotional Organization Tools, 2012

 

 

Non-smartphone users interested, too

Table 7-1: Interest in Mobile Financial And Promotional Organization Tools in Next 12 months:Mobile Phone, Smartphone& Non-Smartphone Users

 

 

Mobile bankers most apt to express interest in variety of methods

Table 7-2: Interest in Mobile Financial and Promotional Organization Tools in Next 12 Months: Mobile Phone Users, Mobile Bankers and Mobile Payers, 2012

 

 

Mobile Phone Shopping Enhancements

 

Mobile Shopping Tools: Current Use and Future Use

 

Stop using that cell phone to find a better offer and then shop elsewhere!

Keep them in the store and upsell them

 

Comparing prices while shopping a popular phenomenon

 

Graph 7-2: Mobile Payers: Current and Future Use of Mobile Shopping Tools, 2012

 

 

Non-smartphone users interested, too

Table 7-3: Interest in Mobile Shopping Tools in Next 12 months: Mobile Phone, Smartphone and Non-Smartphone Users, 2012

 

 

Mobile banker interest suggests platform development route

Table 7-4: Interest in Mobile Shopping Tools in Next 12 months: Mobile Phone Users, Mobile Bankers and Mobile Payers

 

 

Chapter 8: Mobile Payments Strategies: Card Associations

 

American Express

 

Payment diversification

Prepaid moves

 

Filling a void

 

Strong consumer value proposition

 

 

Bluebird takes flight

Part of the digital wallet

 

 

Serve

Tapping younger, affluent customers

 

Building use base via partners with large customer bases

 

Ticketmaster

 

Verizon

 

Funding agnostic

 

P2P and other nifty things

 

Bridging online and offline

 

Personalized offers

 

My Offers personalizes daily deals

 

Go Social

 

Location-based SMS text messaging for feature phone users

 

Location-based offers for iPhone on the way

 

Loyalty automation

 

 

Serve revenue

Table 8-1: Serve Revenue Drivers and Cost Drivers

 

 

Discover Financial Services, Inc.

 

Discover building significant relationships

Alternative payments strategy

 

PayPal card

 

Google Wallet card

 

 

MasterCard

 

PayPass

Security

 

 

PayPass Wallet Services

PayPass network remains very small

 

 

MasterCard inControl: Security, financial control and awareness

 

The bigger picture: EMV is the key

Strong on security

 

Weak on adoption

 

 

Visa

 

Priority 1: driving consumer adoption

 

Rollout with major banking and retail partners

 

V.me makes huge splash abroad

 

Visa mobile payments relationship building

 

Chapter 9: Mobile Payments Strategies: Digital Leaders

 

Introductory competitive analysis

 

The mobile payment solution with the most users wins?

Table 9-1: Leading E-Commerce Mobile Payments Players: Consumer Usage Metrics

 

 

Who has the fee edge?

Table 9-2: Leading E-Commerce Mobile Payments Players: Merchant Processing Fees

 

 

And how/where do I pay?

Table 9-3: Leading E-Commerce Mobile Payments Players: Payment Options

 

 

New technologies at the point of sale

Table 9-4: Leading E-Commerce Mobile Payments Players: POS Payment Method

 

 

Amazon Payments

 

Drawing from an enormous consumer usage base

Table 9-5: Amazon.com Website Monthly Usage Penetration and Visits per Month, 2007-2012

 

Checkout by Amazon

 

Checkout by Amazon Mobile

 

Amazon Simple Pay

 

Amazon WebPay

 

Amazon Mobile Payments Service

 

Flexible Payment Services

 

Pricing and fees

 

Table 9-6: Amazon Payments: Fee Structure, 2012

 

 

Apple

 

Passbook

Dipping a toe in offline space

 

NFC still not on the menu, but perhaps fingerprints are?

 

Missing pieces

 

 

The iTunes connection

400 million accounts worldwide

 

Millions of highly engaged U.S. users

 

Who align well with smartphone demographic

 

Table 9-7: iTunes Annual, Weekly and Daily Usage Population and Demographic Analysis, 2012

 

 

Key mobile technology groups likely to use iTunes

Table 9-8: iTunes Annual, Weekly and Daily Usage Penetration and Population Universe: By Cell Phone Owners, Cell Phone Data Plan, Android and iOS Users, App Downloaders, Tablet Owners, and Online Bankers, 2012

 

Graph 9-1: iTunes Annual, Weekly and Daily Usage Penetration: By Cell Phone Owners, Cell Phone Data Plan, Android and iOS Users, App Downloaders, Tablet Owners, and Online Bankers, 2012

 

 

Google Wallet

 

Wallet 1.0: lots of fanfare; little success

 

Wallet 1.5: putting it in the cloud

Calling all cards

 

Save to Wallet feature

 

 

Online/offline integration: Enter the virtual prepaid card

Online purchases: ubiquity, courtesy of MasterCard

 

In-store purchase limited by NFC

 

Security enhancement

 

Wallet 2.0: Leapfrogging NFC with a physical card

 

Thank you, Discover

 

The interchange issue: Google loses on transaction revenue

 

 

Facebook

 

Direct to carrier billing payments strategy; digital content focus

Providing opportunity for Facebook App Center

 

15% of revenue from payments

 

Mobile active users set to top 500 million

 

Graph 9-2: Facebook Mobile Active Users and Average Revenue Per User, 2011-2012

 

 

Groupon Payments

Very attractive pricing

 

 

LevelUp

The best pricing: no interchange

 

Incentive programs, merchant partnerships and user base

 

LevelUp makes its money from added-value analytics

 

Merchant-driven customer discounts

 

Addressing security concerns

 

Table 9-10: LevelUp Security Summary

 

 

PayPal

 

Bill Me Later

 

Zong

 

100 million accounts and counting

 

The PayPal P2P usage base

 

Online and mobile capability

 

PayPal Wallet

 

PayPal Here: POS solution

 

The Discover network connection

 

The card you use to pay matters: lower interchange = better for PayPal

 

Location-based mobile advertising

 

Addressing fraud

 

Square, Inc.

 

How much it costs

Table 9-12: Square Pricing Options and Fees

 

 

How it works

Open tab feature

 

Loyalty tracking

 

Security

 

 

Tools

Square Card Reader

 

Square Register

 

 

Starbucks breaks it wide open

Starbucks

 

 

Chapter 10: Mobile Payments Strategies: Processors and

 

POS Solution Providers

 

Heartland Payment Systems

 

Going Mobuyle

 

Penetrating higher education

 

Fiserv

 

Leveraging relationships to build an integrated platform

Table 10-1: Fiserv Customer Relationships, by Payment Method and Device

 

 

Electronic banking

 

Electronic bill payment and presentment

 

Digital channels

 

P2P opportunity

 

2010 P2P launch

 

2011 Popmoney integration

Demand surging

 

Fast transaction execution

 

Integration with bill payment

 

 

Spot Pay: Setting sights on Square and PayPal

 

Windows 8 Digital Banking

 

Verifone

 

1 million NFC terminals shipped

 

Terminal upgrades coming

 

Straddling emerging wallets

 

Chapter 11: Mobile Payments Strategies: Mobile Network Operators

 

Isis

 

230 million accounts is a nice start

Table 11-1: Verizon, AT&T, Sprint and T-Mobile Subscribers, ARPU and Service Revenue, 2009-2011

 

 

Isis

 

A challenge to the payment networks

Open wallet approach

 

Table 11-2: Isis: What's in the Wallet and How It Works

 

Off the ground after delays

 

 

Chapter 12: Mobile Payments Strategies: Retailers

 

Merchant Customer Exchange

Wal-Mart testing

 

 

Starbucks

 

Starbucks takes the barcode route

 

100 mobile million transactions and counting

 

Stored value card foundation

 

Benefits

 

Square partnership—a Square investment

 

Restaurant chains

 

McDonald's

 

Dunkin Donuts

 

Appendix

 

Consumer survey methodology

 

Market size and forecast

 

Report table interpretation

 

Abbreviations

 

Terms and definitions

Explanatory tables

 

Table: Appendix – 1: Mobile Phone, Smartphone, Non-Smartphone, Mobile Banking and

 

Mobile Payments Users: 2012

 

Table: Appendix – 2: U.S. Cell Phone Ownership/Use, by Demographic: 2012 Survey Comparison

 

 

 

To order this report:

: Mobile and Alternative Payments in the U.S., 3rd Edition

 

 

 

Nicolas Bombourg
Reportlinker
Email: [email protected]
US: (805)652-2626
Intl: +1 805-652-2626

 

SOURCE Reportlinker

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