A new report commission by IMS Research shows that 60% of consumers are interested in mobile payments. The World Market for Payment and Banking Cards – 2012 Edition surveyed consumers in China, Japan, Poland, South Korea, Turkey, the U.K. and the U.S., of which more than half were were either ‘very interested’ or ‘interested’ in a mobile phone that could replace their bank card.
“The most positive countries who were interested in mobile phones replacing their bank cards were China, South Korea, Poland and Turkey respectively,” stated Don Tait, senior analyst atIMS Research’s Financial and ID Technology Group and the report’s author.
“In 2011, around 35 million NFC-enabled handsets were shipped globally. The number of NFC-enabled phones launched onto the market has gathered pace during 2012. Apart from Apple, virtually all of the leading smartphone manufacturers have launched NFC-enabled handsets over the last 18 months. This bodes well for the technology and applications such as mobile payments. With ISIS finally launching its NFC payments and offers service in Austin, Texas and Salt Lake City, Utah last week and Google Wallet updating its offering to include peer-to-peer payment, momentum is certainly behind NFC,” he explains.
However, the report does not downplay the still crucial role of cards. “It is worth stating that payment cards are likely to be here for the foreseeable future. After all, how long has the ‘paperless office’ and ‘cashless society’ taken to come to fruition? The death knell of a payment and banking smart card as a form factor is still a long way off. Indeed, IMS Research predicts that 3.4 billion smart payment cards will be shipped in 2017, compared to the 1.1 billion in 2011,” Tait added.
Click here to read the report.
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