Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

Global payment market seeing smartphones and tablets uproot existing technologies

Industry Sector

Finance and Banking

Published

15 November 2012

Author

Mike King

Type of News

Market

The global payment market is nearing a tipping point with regard to whether new technologies, including mobile phones and tablet devices, could uproot the payment methods that have existed for decades.

Numerous companies from existing tech giants such as Google Inc, to fledging payment start-ups like Boston-based LevelUp, are introducing technological innovations that are causing great disruption to the payment industry.

These new ways of doing business are driving great change throughout the long-standing payment industry and are threatening the traditional payment business models.

New consumer products, such smartphones and tablets, as well as new ways of sharing information such as NFC chips, QR codes and cloud computing have spurred the payment industry's evolution.

The new alternative payment types include plug-in devices, QR code-based systems, mobile carrier-led systems, direct-carrier billing, EFT-funded payment systems, merchant-led networks, closed-loop payment systems and product innovations from existing tech giants.

While there is potential for great disruption across the global payment industry, many of the alternative payment systems in the market today layer over the existing payment rails and thus do not threaten mainstream financial providers.

In the developed world, paying via a mobile phone is ultimately about winning over the consumer through improved convenience, whereas in emerging markets m-payments are a way to reach the large unbanked population.

For more information on the global payment market, see the latest research: Global Payment Market

Follow us on Twitter @CandMResearch

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Change Currency

GBP
USD

Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

Can't find the exact research required: We can provide you with cost-effective research on any industry or topic

Use our skills and global network of researchers and consultants to help find and source the business information you need.

Contact us now on 00 44 (0) 203 0868600 or "enquiries @ companiesandmarkets.com" to discuss you requirements and we can provide you with a research solution at suprisingly efficient rates and timelines.

Sometimes we can even find the information you require for free.

Find all the research at the best prices. Great promotions being offered during January!

We are offering our clients substantial savings on the best research available during January. Please contact us either via email or by calling our team to discuss your specific research needs on Tel: 00 44 (0) 203 0868600.

Accessibility
Close

Contrast settings

Text size settings