Gartner Research

Market Trends: Mobile Payment — The Way Forward

Published: 08 May 2015

ID: G00273555

Analyst(s): Sandy Shen

Summary

Many consumers don't use mobile payment due to lack of value and trust. Product managers at mobile payment providers should maximize the reach of consumers and merchants, enhance service benefits, and build trust with customers through brand partnership and communication.

Table Of Contents

Introduction

Market Trend

  • Mobile Commerce Experience Delivering Value Leads to Transactions
  • Trust Comes From Brand Affinity and Security
  • Platform-, Hardware- and Use-Case-Agnostic Payment Services Scale Up More Quickly
  • Technology Trend
    • NFC Transactions Account for the Minority, Despite Momentum From Apple Pay
    • Tokenization Is Being Driven by Apple Pay and Host Card Emulation Deployments

Contrarian View

  • NFC Payment Preferred by Consumers Will Accelerate Adoption

Vendors to Watch

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