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Mobile Money: The Exploding New Opportunity

The mobile money marketplace is continuing to grow worldwide, with more and more players jumping on board to reap the benefits, according to a new Market Vision report from Yankee Group. The report, “What’s Next for Mobile Money,” details the current state of the market and lays out Yankee Group’s ideas of how it will evolve in the coming years.

Highlights include:

  • Mobile money presents a lucrative opportunity. The mobile money marketplace—from mobile banking, payments and coupons to loyalty programs and connected retail devices—will account for U.S.$1 trillion in revenue by 2015.
  • NFC is struggling in commerce—for now. Only a little more than a quarter of payment decision-makers believe NFC is ready for payments prime time, and Yankee Group predicts that NFC will not overtake QR code usage until 2016.
  • Consumers increasingly use their smartphones to access product information and coupons. Between 2011 and 2012, consumers using their camera to scan a bar code almost doubled, with roughly 25 percent of consumers engaged in mobile couponing today.

“Today’s mobile money marketplace—from mobile banking, payments and coupons to loyalty programs and connected retail devices—is a real-time lesson in Darwinism: a constant battle to adapt and survive,” said Principal Analyst Nick Holland, co-author of the report. “From mobile wallets that morph from device-based paradigms to cloud-based models and back again, to daily deals initiatives that soar to popularity only to crash and burn as retailers learn the lessons of social engagement and location, today’s mobile landscape is littered with once-promising-yet-struggling ventures (e.g., Groupon) and successes that are fighting to maintain their edge (e.g., Square).”

About Yankee Group

Yankee Group is the preeminent research and advisory firm equipping companies to profit in a mobile world. The core of our content is proprietary research and analytics on the attitudes, behaviors and usage patterns of mobile users. We provide a range of actionable data, insights and advice to marketing, strategy and product executives driving the mobility revolution in leading companies worldwide. Visit www.yankeegroup.com.

About Business Wire
Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

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LONDON, Sept. 1, 2014 /PRNewswire/ -- Reportbuyer.com has added a new market research report: