Mobile Wallet Outlook, October 2012

Mobile Wallet Outlook, October 2012In this 16-page edition of The Mobile Wallet Report we cover: Apple sends the NFC industry a wake-up call by not including the technology in the iPhone 5; NFC heads to the cloud with a new business model that finally makes sense; Barriers to adoption: Understanding consumers’ security concerns; and more…

Full contents

  • Apple sends the NFC industry a wake-up call: NFC industry players are putting a brave face on the news that Apple has chosen to not include the technology in the iPhone 5. But there certainly will be an impact on the overall adoption rate of NFC and Apple Passbook’s location-based marketing capabilities will need to be incorporated into existing mobile wallet platforms quickly if they are to meet market expectations. See page 2.
  • NFC heads to the cloud with a new business model that finally makes sense: The secure element in an NFC phone, with its ability to assure end-to-end security, has been seen as a key adoption driver for NFC. But the complexity of the business models and relationships surrounding ownership of the secure element mean it has also been NFC’s Achilles heel. New cloud-based concepts now being introduced suggest these business model roadblocks may now be about to disappear, to be replaced by a neater and simpler approach that more closely adheres to existing ways of doing business. See page 7.
  • Barriers to adoption: Understanding consumers’ security concerns — survey after survey has found that security worries are the key block to consumer adoption of mobile payments. Now, it’s becoming clear that those concerns drop dramatically according to the size of the transaction involved. See page 10.

Organisations mentioned include American Express, Apple, Associated Press, Bank Machine, Bank of America, Barclaycard, Casino, Commonwealth Bank of Australia, DeviceFidelity, FIS, Forrester Research, Google, HTC, Inside Secure, JD Power, Javelin Strategy & Research, Live Nation, MasterCard, Motorola, NFC Forum, Nokia, Research in Motion, SRG, Samsung, Sephora, SimplyTapp, Sony, Starbucks, Think&Go NFC, Verizon, Wired, Wireless Dynamics and YouGov.

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This item is part of the Mobile Payments Knowledge Centre.