Arthur D Little Releases Mobile Payments 2005 Update
Arthur D. Little has recently released an update on Mobile Payments by Karim Taga, managing director, and Johan Karlsson, consultant - both in ADL's Vienna, Austria office and members of its Telecommunications, IT, Media & Electronics practice. The report is available for free - but requires entering your order on their website.
We define m-payment as a type of transaction processing in which the mobile handset plays a key role in the initiation, authorisation and/or realisation of the payment. Based on our global survey, we estimate that the m-payment transaction revenues will increase from $ 3.2 billion in 2003 to $ 37.1 billion in 2008.
The report highlights the following current trends on mobile payments:
- The disintegration of Simpay will lead to a focus on solutions developed on a national level.
- Micropayments, such as for parking or transportation payments, continue to dominate mobile payments.
- Macro payments are currently focused on event ticketing.
- Mobile payment technology is currently focused on SMS with a growing interest in RFID.
The report also includes a very useful country by country summary of mobile payments activities in each market - concluding that Austria in Europe and Korea, Singapore and Japan are the most advanced markets in terms of mobile payments.
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