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January 10, 2008
ABI: Consumers Ready to Make In-Store Payments on Mobile Handsets
By Susan J. Campbell, TMCnet Contributing Editor
U.S. consumers are always on the prowl for advancements that enable us to make life easier, do things faster and remain on-the-go. According to a new ABI Research (News - Alert) survey of US consumer attitudes, the same applies to our purchasing habits.
In this survey, ABI found that US consumers are favoring the idea of using their mobile handsets for making in-store payments. The majority, however only want to have one credit/debit account for making these purchases.
In this survey, ABI found that US consumers are favoring the idea of using their mobile handsets for making in-store payments. The majority, however only want to have one credit/debit account for making these purchases.
Much of the work that has already been accomplished in the development of a standard application platform across NFC handsets has been targeted at providing a platform capable of supporting and managing multiple payment accounts from any number of credit and debit card issuers.
The ABI Research survey, “Mobile and Contactless Payments,” conducted at the end of 2007, however found that at least initially, consumers prefer a single account that is easy to manage on the handset.
The ABI Research survey, “Mobile and Contactless Payments,” conducted at the end of 2007, however found that at least initially, consumers prefer a single account that is easy to manage on the handset.
"Our survey revealed a number of important attitudes toward contactless payments among US consumers," says principal analyst Jonathan Collins, in a Thursday statement. "The desire for a single and separate account on NFC handsets, for example, provides a heads-up to existing credit and debit card suppliers that new or separate products may be required to keep customers as they move to mobile payments.”
“Furthermore, it shows potential for new and specialized mobile payment providers to step in, as users turn to NFC-enabled payments," Collins added.
The survey gathered opinions from a Web-based sample of more than 1000 respondents drawn from across the United States and ranging in age from 14 to 59. Participants of the survey were grouped into five age categories and five income levels.
The survey also examined the appeal of and major concerns regarding mobile handset payments. There are clear lessons to be drawn from opinions across all age and income groups and those considering entering this market should examine these results closely to gauge their best strategy for success.
The survey gathered opinions from a Web-based sample of more than 1000 respondents drawn from across the United States and ranging in age from 14 to 59. Participants of the survey were grouped into five age categories and five income levels.
The survey also examined the appeal of and major concerns regarding mobile handset payments. There are clear lessons to be drawn from opinions across all age and income groups and those considering entering this market should examine these results closely to gauge their best strategy for success.
The survey included other key findings such as consumer attitudes toward handset security and toward potential account fees. These issues are ones that mobile operators and their NFC payment partners will have to tackle ahead of any successful contactless handset payment deployment.
The idea of contactless payments is gaining ground in the industry and is likely to see rapid adoption by consumers, as long as those offerings are in-line with consumer demands. Making things more complicated in an effort to make them easier won’t propel any solution in the market.
The idea of contactless payments is gaining ground in the industry and is likely to see rapid adoption by consumers, as long as those offerings are in-line with consumer demands. Making things more complicated in an effort to make them easier won’t propel any solution in the market.
Mark your calendars! Internet Telephony (News - Alert) Conference & EXPO—the first major IP
communications event of the year—is just days away. It’s not too late to register for the event, which takes place in Miami Beach, FL, January 23–25, 2008. The EXPO will feature three valuable days of exhibits, conferences and networking that you won’t want to miss. So what are you waiting for? Sign up now!
communications event of the year—is just days away. It’s not too late to register for the event, which takes place in Miami Beach, FL, January 23–25, 2008. The EXPO will feature three valuable days of exhibits, conferences and networking that you won’t want to miss. So what are you waiting for? Sign up now!Susan J. Campbell is a contributing editor for TMCnet and has also written for eastbiz.com. To read more of Susan’s articles, please visit her columnist page.
