×

Research and Markets: Person-to-Person Mobile Money Transfers: Successfully Navigating a Market in Transition

DUBLIN, Nov 12, 2010 (BUSINESS WIRE) -- Research and Markets (http://www.researchandmarkets.com/research/006250/persontoperson_m) has announced the addition of Javelin Strategy & Research's new report "Person-to-Person Mobile Money Transfers: Successfully Navigating a Market in Transition" to their offering.

This report examines mobile P2P services offered by 14 vendors and FIs throughout the world. According to our consumer survey results from July 2010, the number of consumers likely or very likely to conduct a mobile P2P transfer in the upcoming 12 months stood at 8%, whereas 68% of those surveyed stated that they would likely not make a mobile P2P transfer in the next year. Despite the low number being reported by consumers, there are some bright spots in the U.S., and vendors operating internationally all report strong mobile P2P adoption in emerging markets.

The adoption overseas is being driven by the lack of banking infrastructure and lack of competing products (alternatives) in emerging markets. In the U.S., a multitude of FIs are starting to offer mobile P2P services, and if they successfully implement and market those services, they can increase consumer usage in the near term. In addition to analyzing 14 vendors and FIs, quantitative consumer data provided insight into consumers attitudes regarding mobile P2P in the U.S. The market in the U.S. is clearly in transition.

In 2010, one offering is being discontinued (from Citibank/MasterCard/Obopay), and several other vendors (CashEdge with POPmoney, Fiserv with ZashPay and Monitise Americas) and major offerings (Bank of the West, JPMorgan Chase, PNC and U.S. Bank) are launching their services. Jack Henry & Associates further announced The WayiPay, a standalone version of the iPay P2P Internet payment solution the company acquired in June 2010. Jack Henry expects to launch the service in the fourth quarter of 2010.

Primary Questions Will consumers use mobile person-to-person (P2P) payments? What is the value of mobile P2P transactions to various payment ecosystem players? What are the key marketing strategies of mobile P2P, and which consumer segments are the most viable initial targets? What mobile P2P transfer offerings are available in the marketplace? What vendor models are poised for success and why? Key Topics Covered: Overview Primary Questions Key Findings Methodology Executive Summary Mobile Person-to-Person Payments Timeline of Key Mobile P2P Initiatives U.S. Consumer Usage Analysis Overview of U.S. Consumer Interest in Mobile P2P Payments Primary Reason for Using Mobile P2P Payments Frequency and Value of Users Mobile P2P Transfers Mobile P2P Market Sizing Barriers to U.S. Adoption of Mobile P2P Payments U.S. Consumers Concerns List of Figures Companies Mentioned For more information visit http://www.researchandmarkets.com/research/006250/persontoperson_m SOURCE: Research and Markets CONTACT: Research and Markets Laura Wood, Senior Manager, press@researchandmarkets.com U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Copyright Business Wire 2010 -0- KEYWORD: United States

North America

New York INDUSTRY KEYWORD: Technology

Mobile/Wireless

Professional Services

Banking