Overview
New research from Mercator Advisory Group examines
mobile payment opportunities for U.S. credit issuers
Boston, MA - July 30, 2013 - The major card networks began supporting contactless payments nearly a decade ago, but consumer and merchant adoption has lagged considerably. Several startups, as well as established firms outside of the financial services industry, are marketing enhanced mobile payment services capable of causing significant disruption to the consumer payments value chain.
Mobile operating system developers, handset manufacturers, and mobile network operators are among the first to market with mobile wallets, but traditional IT suppliers to financial institutions are starting to develop solutions to help banks respond. The largest U.S. credit card issuers are investing, piloting, or otherwise exploring several mobile payment options to make sure they can quickly implement the technology that is most widely adopted. Mercator Advisory Group's most recent research report, Mobile Payments: Opportunities and Strategies for Credit Issuers, provides a framework for understanding the current and potential impact of mobile payments technology on the credit issuing business.
"Tech companies are challenging issuers' core business at a time when competition among existing industry participants is extremely high," comments Michael Misasi, senior analyst at Mercator Advisory Group and author of the report."Issuers are rightly protective of their transaction data and cardholder relationships. Fortunately, financial institutions have several strategic assets that can minimize the threat of disruption."
This report contains 24 pages and 7 exhibits.
Companies mentioned in this report include: AT&T, Bank of America, Citibank, Device Fidelity, FIS, Fiserv, Gemalto, Google, HTC, ISIS, JPMorgan Chase, LG, MasterCard, MCX, Paydiant, U.S. Bank, Samsung, Sprint, Starbucks, T-Mobile, Vantiv, Verizon, Visa, Wells Fargo,
Members of Mercator Advisory Group's Credit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
One of the exhibits included in this report:
Highlights of the report include:
- Mercator Advisory Group's latest statistics on consumer adoption of various mobile payment technologies
- A credit issuer-centric SWOT analysis of the mobile payments industry
- An overview of the most prominent mobile wallet providers including ISIS, Google Wallet, Starbucks, and MCX
- A prediction of how the next round of mobile wallet products is likely to operate
Learn More About This Report & Javelin
Related content
Co-Branded Credit Cards 2024: Top Issuer Market Review
Co-branded credit cards, a significant segment of the U.S. consumer credit market, are poised for further growth. These products are not just popular but also essential, attracting...
Disbanded Co-Brands: When Credit Card Joint Ventures Fail
The robust credit card co-brand market represents more than 300 million U.S. cards. However, the relationship requires partnership and cooperation between all parties, and successf...
Credit Card Issuance by Small Issuers: Strategies, Risks, and Options
Community banks, credit unions, and banks of all sizes face an imperative of having a presence in payment cards. With almost 600 million credit cards in the United States and 230 m...
Make informed decisions in a digital financial world