|By PR Newswire||
|January 8, 2014 07:04 AM EST||
NEW YORK, Jan. 8, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
US Mobile Wallet Market Insight
From Payments to Marketing and Customer Relationship Management
A wide range of financial services are presently being offered through the mobile channel in the United States. These include mobile banking services, peer-to-peer remittance services, mobile shopping services, and price comparison services. This Frost & Sullivan's strategic insight presents an analysis of the key trends in the United States' mobile wallet market. This insight also provides a brief overview of other payment-related value-added-services (VAS) that can be offered through the mobile channel.
Adoption of mobile banking and mobile payments continues to increase rapidly in the United States. Mobile wallets have emerged as an important technology to deliver comprehensive mobile payment services to consumers. This Frost & Sullivan insight presents an analysis of the US mobile wallet market. Specifically, this insight will cover the following topics:
• Defining mobile wallets—consumer functionality, benefits, types, and service features
• Value chain analysis—key industry participants, platform components, and technology architecture
• Strategic roadmap for mobile wallets—short-term and long-term opportunity for mobile wallets
• Focus on the revenue opportunity—couponing, loyalty programs, etc.
• Conclusions—the last word
Mobile wallets are part of the overall mobile financial services market. They fall under the category of "mobile payments" and are especially used for local and remote mobile payments.
Market Overview and Key Definitions
A mobile wallet is an on-device mobile application that allows the consumer to use their phones for local and remote payment transactions. However, most mobile wallet applications are designed to be used for many other applications, including ticketing, couponing, payments, offers and marketing, and banking. According to the Mobey Forum, an industry association for financial institutions operating in mobile financial services, a mobile wallet is a functionality on a mobile device that can securely interact with digitized valuables (or digital assets). There are several non-application-based mobile mechanisms that can be used to provide mobile wallet services. For example, short messaging service (SMS) or Unstructured Supplementary Service Data (USSD) can be used to provide mobile wallet services (such as mobile payments). Therefore, by considering mobile wallets as a set of functionalities, all these non-application-based implementation types can and should be considered. A "digitized valuable" can include both financial and non-financial assets. Therefore, it is important to develop open mobile wallet implementations that will allow consumers to store and manage various types of digital assets (or credentials) on their mobile devices or using cloud computing.
Mobile Wallet Functionality and Benefits
Leveraging the benefits of a connected and converged mobile experience to bring in efficiency, transparency, and security to different types of payment methods is the main driving force behind present m-wallet initiatives. From a consumer perspective, it is important to deliver clear, tangible benefits with m-wallets that can differentiate mobile wallets from plastic cards-based payments.
Types of Mobile Wallets
Near Field Communications (NFC), as well as barcodes and quick response (QR) codes are the two main approaches used in the United States for local payments. Non-NFC-based implementations may have taken a small, early lead in the US mobile wallet markets. However, Isis—the NFC-based mobile wallet initiative that is backed by three out of four tier-I mobile operators in the United States—is expected to become a popular mobile wallet offering in the next three to five years. There are several ways in which mobile operators can help drive adoption of Isis. This includes providing marketing support and ensuring that NFC handsets are made available to consumers on attractive terms. Other "hybrid" types of implementations are also being evaluated, in order to combine the features of NFC and secure cloud computing to deliver innovative mobile payment services.
Table of Contents
Market Overview and Key Definitions 4
Mobile Wallets 4
Mobile Wallet Functionality and Benefits 4
Types of Mobile Wallets 5
Consumer Choices and Implications 7
The Mobile Wallet Value Chain 7
Actual Payments Process—The Consumer Experience 10
Business Model for Mobile Wallet Platform Providers 11
Cloud-based Mobile Wallet Providers 11
Licensing, Regulation, and Standards 13
Strategic Roadmap for Mobile Wallets 14
Entities Offering Mobile Wallets 15
Key Success Factors for Mobile Wallet Providers 16
Market Forecasts 17
The Last Word 18
Legal Disclaimer 19
The Frost & Sullivan Story 20
Contact Clare: [email protected]
Intl: +1 339-368-6001
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Oct. 20, 2016 03:45 PM EDT Reads: 2,648
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 20, 2016 03:45 PM EDT Reads: 3,469
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 20, 2016 03:45 PM EDT Reads: 872
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Oct. 20, 2016 03:00 PM EDT Reads: 3,737
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Oct. 20, 2016 03:00 PM EDT Reads: 5,858
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Oct. 20, 2016 02:15 PM EDT Reads: 9,554
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 20, 2016 02:15 PM EDT Reads: 830
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Oct. 20, 2016 02:15 PM EDT Reads: 2,613
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 20, 2016 01:45 PM EDT Reads: 10,914
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
Oct. 20, 2016 01:45 PM EDT Reads: 2,123
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 20, 2016 01:45 PM EDT Reads: 7,833
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 20, 2016 01:30 PM EDT Reads: 687
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Oct. 20, 2016 01:30 PM EDT Reads: 5,049
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 20, 2016 01:15 PM EDT Reads: 1,380
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 20, 2016 01:00 PM EDT Reads: 324