60% of consumers interested in mobile payments


An interesting finding from a survey commissioned by IMS Research’s shows that 60% of consumers were interested in mobile payments. This is one of the leading findings from the published report The World Market for Payment and Banking Cards – 2012 Edition.

‘According to the survey, which comprised 700 consumers from China, Japan, Poland, South Korea, Turkey, the UK and the US, 60% of respondents were either ‘very interested’ or ‘interested’ in a mobile phone that could replace their bank card. This represents a positive outcome for stakeholders involved in the mobile payments space,’ stated Don Tait, senior analyst at IMS Research’s Financial and ID Technology Group and the report’s author.

The most positive countries who were interested in mobile phones replacing their bank cards were China, South Korea, Poland and Turkey respectively. 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.

Tait added, ‘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.’