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Mobile and Alternative Payments in the U.S., 4th Edition

  • October 2014
  • -
  • Packaged Facts
  • -
  • 146 pages

Almost everywhere, emerging and alternative payments are helping to reshape the consumer purchase experience: PayPal is used almost as prevalently as debit and prepaid cards to make purchases online; Apple Pay is set to leverage the power of payment tokenization; mobile wallets are being reimagined beyond merely proximity payments to more broadly facilitate ecommerce and wrap add-value features and benefits into the mix: Visa Checkout brings the Visa brand to online payment facilitation. Meanwhile, mobile banking has entered the mainstream, reinventing the consumer banking experience. Packaged Facts expects mobile payments at the point of sale to reach $35 billion in 2014, despite being hampered by near-term challenges, and we expect robust growth in 2016 and 2017.

Packaged Facts’ Mobile & Alternative Payments in the U.S. gives industry participants the insight the need to stay abreast of this dynamic market. Report coverage includes a market size and forecast for mobile POS payment value and a market size for mobile wallet transaction value. It also:

· Explores a range of positive and negative factors influencing mobile payments growth (including NFC and Host Card Emulation trends, mobile wallet reimaging, and mobile banking and payment trending),

· Provides historical analysis of alternative payment categories (including online and mobile person-to-person transfers; person-to-person (P2P) and money transfer; online and walk-in bill payment; secure online payment; card-present vs. card-not-present transactions; and mobile remote deposit capture).

· Assesses consumers via their:

o Use and usage frequency of mobile banking and usage of specific mobile banking features, by demographic group.

o Use and usage frequency of mobile payments by demographic group

o Use of a range of P2P methods, including PayPal, bank wire transfers, bank P2P transfers, money transfer services, and other emerging methods.

o Choice of payment at the point of sale and via the internet. As part of our point-of sale purchase analysis, we assess the degree consumers initiate payments via mobile wallets (i.e. PayPal, Google Wallet, etc.)

o Use of various added-value mobile phone financial, promotional & shopping tools

· Assesses the degree the underbanked and unbanked are using mobile financial services, including mobile financial, promotional & shopping tools; mobile payment methods; mobile payment methods at point of sale; and P2P methods. We also examine the relationship between prepaid card use and mobile payments.

· Provides in-depth competitive analysis of industry participants and their mobile payment strategies, including those employed by:

o Card networks American Express, Discover Financial Services, MasterCard and Visa

o Alternative payments providers and retailers, including Amazon Payments, Apple Pay, Google Wallet, LevelUp, Merchant Customer Exchange, PayPal, Square, Softcard and Starbucks.

Table Of Contents

Mobile and Alternative Payments in the U.S., 4th Edition
Chapter 1: Executive Summary
Report Scope
Report Summary
Market size and forecast
Growth factors
Alternative payment initiation methods: historical trends
Mobile banking trends
Mobile banking enjoys strong online-to-mobile crossover appeal
Mobile banking has entered the mainstream; continued uptake on horizon
Range of mobile banking features are more prevalently used
Mobile payments trends
Point-of-sale and internet purchase methods
Electronic options vs. cash and check at the point of sale
Mobile payments at the point of sale
Mobile payments made via the internet
P2P usage trends
Consumer use of mobile financial, promotional and shopping tools
Mobile financial and promotional organization tools
Mobile shopping tools
Mobile trends and the unbanked
Smartphones bringing mobile banking and payments to underbanked
Underbanked helping to drive mobile banking and mobile payments:
Prepaid cards playing a significant role in mobile banking and payments
Mobile payments strategies: card associations
American Express
Discover Financial Services
MasterCard
Visa
Mobile payments strategies: alternative payments providers
Amazon Payments
Apple Pay
Google Wallet
LevelUp
Merchant Customer Exchange
PayPal
Square
Softcard
Starbucks
Chapter 2: Market Size and Forecast
Mobile payments at the point of sale
Mobile wallets: the Fed's definition
Table 2-1: Mobile Wallet Payments: Number, Value and Average Value, 2012
Table 2-2: Adult Consumer Mobile POS Payments Transaction Value, 2014
Table 2-3: Mobile POS payment value: 2014-2017
Growth factors
Increasing consumer adoption rates
Smartphones bring mobile banking and mobile payments to the mainstream
Table 2-4: Mobile Banking and Mobile Payment Usage, by Type of Phone Used, 2012 vs. 2014
Reimaging the mobile wallet
How can you improve on swiping a card?
Carrot and stick: wrap behavior-changing features around payments
Big steps: PayPal
Big steps: MasterCard
EMV card adoption way behind
But transition is in full swing
Impetus for change
NFC merchant adoption very low
Large chain skew
EMV “re-terminalization” to provide a boost?
Host card emulation opens things up
Alternative payment initiation methods: historical trends
Payment segments
Online/mobile bill payments
Online/mobile person-to-person transfers
Table 2-5: Online and Mobile Bill Payments: Number, Value and Average Value, 2012
P2P and money transfers
Table 2-6: P2P and Money Transfers, by Payee Location, Transaction Value Range, Clearing System and Origination Channel: Number and Value, 2009 vs. 2012
Online and walk-in bill payments
Table 2-7: Online and Walk-In Bill Payments: Number and Value, 2009 vs. 2012
Secure online payments
Table 2-8: Secure Online Payments: Number, Value and Average Value, 2012
Card-not-present card transactions a growing slice of the pie
Card-present transactions
Card-not-present transactions
Table 2-9: Credit Card and Debit Card Value and Volume: Card-Present vs. Card-Not-Present, 2009 and 2012
Mobile remote deposit capture catching on
Image check deposits
Consumer image check deposits by capture device
Chapter 3: Mobile Banking Trends
Summary analysis
Online banking widely accepted
Out of 48 online activities, mobile banking fifth most prevalent
Graph 3-1: Types of Online Activities Used/Visited in Past 30 Days: Online Usage/Visits vs. Mobile/Handheld Usage Visits, 2014
Mobile banker definition
Mobile bankers
Table 3-2: Adults Who Used Mobile Banking in Past 12 months and Past 30 Days; Times Used per Month, 2014
Mobile banking features and methods
Demographic analysis
Generational trends bode well for uptake over time
HH income implies barrier to use
Table 3-3: Mobile Banking Feature and Method Usage Penetration, by Age and HH Income, 2014
Gender differences
Racial/ethnic driver
Urban skew
Table 3-4: Mobile Banking Feature and Method Usage Penetration, by Gender, Population Density and Race/Ethnicity, 2014
Chapter 4: Mobile Payments Trends
Summary analysis
Mobile payment definition
Mobile payers
Table 4-1: Mobile Payments: Usage Penetration, Usage in Past Month and Monthly Usage Frequency, 2014
Mobile payment methods
Table 4-2: Mobile Payment Methods, by Demographic, 2014
Chapter 5: Point-of-Sale and Internet Purchase Methods
Summary analysis
Electronic options vs. cash and check at the point of sale
Mobile payments at the point of sale
Mobile payments made via the internet
Purchase methods at the point of sale
Table 5-1: Consumer Purchase Methods at the Point of Sale, 2014
Demographic analysis
Table 5-2: Purchase Methods at the Point of Sale, by Demographic, 2014
Mobile phone purchase methods at the point of sale
Definitional context
And the survey says . . . PayPal!
Occasional use
Demographic analysis
Table 5-3: Use of Leading Mobile Purchase Methods at Point of Sale, by Demographic, 2014
Purchase methods via the internet
Definitional context
And the survey says . . . credit cards! But PayPal is breathing down their necks
Table 5-4: Consumer Purchase Methods on the Internet, 2014
Demographic analysis
Table 5-5: Internet Purchase Methods, by Race/Ethnicity and Age, 2014
Table 5-6: Internet Purchase Methods, by Age, Gender, HH Income and Population Density, 2014
Chapter 6: P2P Usage Trends
P2P methods
Table 6-1: P2P Methods Used, 2014
Demographic analysis
Table 6-2: P2P Methods Used, by Demographic, 2014
Chapter 7: Consumer Use of Mobile Financial, Promotional and Shopping Tools
Mobile financial and promotional organization tools
Mobile shopping tools
Overview
Mobile financial and promotional organization tools
Table 7-1: Consumer Use of Mobile Financial, Promotional and Shopping Tools, 2014
Demographic analysis
Table 7-2: Use of Mobile Financial and Promotional Organization Tools, by Demographic, 2014
Mobile shopping tools
Demographic analysis
Table 7-3: Use of Mobile Shopping Tools, by Demographic, 2014
Chapter 8: Mobile Trends and the Unbanked
Summary analysis
Definitional context
Smartphones open the door for financial inclusion
Underbanked and AFS users are smartphone enabled
Table 8-1: Percent of Adults That Have Mobile Phone and Smartphone: Unbanked, Alternative Financial Services Users, Underbanked, Banked and Fully Banked, 2014
Mobile financial, promotional and shopping tools
Table 8-2: Use of Mobile Financial, Promotional and Shopping Tools: Fully Banked, Underbanked and Unbanked, 2014
Mobile banking and mobile payments
Table 8-3: Mobile Banking and Mobile Payment Usage and Usage Frequency: Fully Banked, Underbanked and Unbanked, 2014
Mobile payment methods
Table 8-4: Mobile Payment Methods: Fully Banked, Underbanked and Unbanked, 2014
Mobile payment methods at point of sale
Table 8-5: Use of Leading Mobile Purchase Methods at Point of Sale: Fully Banked, Underbanked and Unbanked, 2014
P2P methods
Table 8-6: P2P Methods Used: Fully Banked, Underbanked and Unbanked, 2014
The prepaid connection
It's not about the card, it's about the ecosystem
Mobile or bust
Prepaid and banked status
Table 8-7: Prepaid Card Usage Penetration: Unbanked, Alternative Financial Services Users, Underbanked, Banked and Fully Banked, 2014
Prepaid users driving mobile payments
Table 8-8: Mobile Payment in Last 12 Months and Monthly Payment Frequency: Prepaid Card Users vs. Non-Users, 2014
Chapter 9: Mobile Payments Strategies: Card Associations
American Express
Payment diversification
The Serve digital platform
Customer growth on a tear
$6 billion loaded during 2014?
Graph 9-1: American Express Enterprise Growth Group Quarterly Customer Growth: 2011-2013
Enhancing the consumer value proposition
Favorable economics
But does discount fee freedom give American Express unfair advantage?
Filling a demographic void
Strong customer retention potential
Upgrade opportunity a marketing masterstroke
Alternative payments relationships
Softcard
Uber
Leveraging the closed loop: a social media advantage?
The Facebook connection
Discover Financial Services, Inc.
Alternative payments strategy
Contactless reach
PayPal: Tremendous potential; slow out of the gate
Ariba: eyeing B2B
Getting its card in others' wallets
MasterCard
PayPass gaining global steam; U.S. growth more moderate
PayPass explained
Security
MasterPass
And open wallet
A wallet enabler
Featuring shop and pay innovation
Bridging mobile POS payment options
Easy to use, ease to implement and easy to add features
Global expansion
In-app payment
Thank you, C-SAM
Visa
Setting the mobile stage: Visa payWave
Mobile deployment in the cloud
Visa Checkout: Positioning Visa as online transaction facilitator
It's nice to have powerful friends
A narrow goal, for now
Goodbye, V.me
Not enough
Learning from mistakes
Bridging physical and virtual
LoopPay provides NFC workaround
Visa Digital Solutions
Chapter 10: Mobile Payments Strategies: Alternative Payments Providers
Amazon Payments
Amazon WebPay
Drawing from an enormous consumer usage base
Graph 10-1: Retailers Ordered From Online in Past Three Months: Top 10 Retailers, 2014 Female, younger, affluent purchaser base
Table 10-1: Online Orders at Amazon in Past Three Months, by Demographic, 2014
Apple Pay
A case for change
How it works
Touch ID adds unique security layer
Token time
Apple gets a cut
A promising group of participants
Passbook integration
The iTunes connection
Closing in on 900 million accounts worldwide
iTunes trails only Amazon as most prevalently used online retailer
Graph 10-2: Retailers Ordered From Online in Past Three Months: Top 10 Retailers, 2014 Younger, affluent purchaser base
Table 10-2: Online Orders in Past Three Months: Amazon vs. iTunes Store, by Demographic, 2014
The iPhone connection
Table 10-3: Smartphone Users and Top Five Smartphone Brands Used, by Demographic, 2014
Google Wallet
On the payments side
Wallet 1.0: lots of fanfare; little success
Wallet 1.5: tapping the cloud
Wallet 2.0: a virtual card connects cards for NFC in-store payment
Wallet 3.0: Offline integration and ubiquity
Moving from hybrid NFC/cloud-based model . . .
. . . to a host card emulation model that leverages the cloud . . .
. . . and that grows the usage pie
You've got a watch; we've got glasses
Giving consumers more reasons to use it
Gift cards
Loyalty programs
Google Offers
P2P
Facilitating ecommerce: one app sign-in, Instant Buy API and order tracking
LevelUp
Merchant-driven loyalty credit
Adding a payment card
Conducting a payment transaction
LevelUp security
Pricing
Transaction aggregation
Partners and relationships
Android Wear
iBeacon success
Leads to wider rollout
Merchant Customer Exchange
The veil lifts: CurrentC is here
Features and benefits
PayPal
PayPal: P2P, cards, banking and lending under one roof
PayPal Credit
Zong
Braintree
Venmo
Usage reach
152 million accounts and counting
Monthly visits on the upswing
Table 10-4: PayPal Website Usage/Visits, 2008-2014
PayPal P2P usage base continues to grow
Table 10-5: Sending and Receiving Money: How Sent in Past 12 Months, 2008-2014
P2P demographic analysis
Table 10-6: Sending and Receiving Money: How Sent in Past 12 Months: Top Five Methods, by Demographic, 2014
An ecommerce giant
Crossing $200 billion in payment volume
Table 10-7: PayPal Payment Value: Total, Merchant Services and On eBay, 2011-2013
A significant online payment choice
Graph 10-3: Online Purchase in Past Three Months: Payment Method, 2014
Extending reach into bill payments
Table 10-8: Bill Payment Methods: Used Never, Sometimes and Always, 2014
A mobile payments powerhouse
Table 10-9: PayPal Mobile and International Transaction Metrics, 2013
Free processing enticement
Recipe for success: the PayPal digital wallet
Omni-channel experience
Secure access and low fraud rates
Payment agnostic, but with a plethora of out-of-house and in-house options
Using the mobile app is simplicity itself
Conducting ecommerce gets simpler, too
Online and mobile checkout
Connecting at the physical point of sale
At a terminal
Mobile check-in
Take me through the steps
The Discover network connection
PayPal Here: small merchant payment acceptance solution
On the horizon
PayPal Beacon
Order Ahead and Pay At Table
Note on PayPal metrics
Square, Inc.
Meteoric payment volume growth
Bumps in the road
Products
Foundational products
Square Reader
Square Register
Table 10-10: Square: Products and Fees, 2014
New products
Square Market
Square Cash
Square Capital
Square Order
Square Feedback
Caviar food delivery
Softcard
A challenge to the payment networks
But delays and limited partnerships crimp acceptance
How to access and enroll
Apple, are you interested?
Starbucks
Starbucks takes the barcode route
Square partnership—a Square investment
Tremendous growth out of the gate
The secret to success?
Stored value card foundation . . .
. . . Tied seamlessly to loyalty program . . .
. . . Helps breed mobile payment success
On deck: mobile order and pay
Appendix
Methodology
Consumer survey methodology
Market size methodology
Mobile POS payments
Mobile wallet payments
2013 Federal Reserve Payments Study
Report table interpretation
Color coding
Indexing
Terms and definitions
Electronic payment system
EMV
Mobile banking
Mobile financial services
Mobile payments
Mobile P2P
Mobile POS
Mobile wallets
Proximity mobile payment
RFID
Secure element
Smartphone
SMS text messaging
Tokenization and end-to-end encryption
Unbanked, underbanked and alternative financial services users

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