Tuesday, April 2, 2013

Mobile Payments: A Race Between NFC & Card Readers / Apps

I wrote about the Mobile Payment industry back in February '13.  The post mentioned that the two dominant technologies vying for market-leadership are NFC and Card-reader (or software-based).

Business Insider's Business Intelligence (BI) released their latest presentation on the Mobile Payment industry. BI analyses polled data and industry players and technologies to piece together the state of the industry and where it's headed.  As I mentioned in my post, Apple is still missing from the payments industry.  With only a Mobile Non-payment Wallet, Passbook, Apple hasn't dived into the mainstream payments arena...yet.

While start-ups such as Square and PayPal have seen their payment values surge in the last couple of years, only 10% of the US and European populations use some form of mobile payment. Similar to my post, BI's analysis of the market has found it to be fragmented in terms of players and offerings to consumers. Various companies in various industry segments (from carriers to manufacturers to consumer internet solution providers) offering various solutions to the end user.  In addition to the clutter, user's are most concerned about security of their transactions.

Click on the BI presentation slides below and gain a bird's-eye-view of the industry.

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