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Mobile operators face a significant threat in the race for mobile payments dominance following the launch of Apple Pay in the USA in October 2014. This Viewpoint explores the increasingly competitive mobile payments space and identifies the key factors that have enabled Apple to position Apple Pay for success against competing mobile payments platforms.

Table Of Contents

The Apple Pay’s successful positioning in the mobile wallet market and CSP strategic responses
Table of contents
About this report: Apple Pay threatens CSPs' mobile wallet aspirations
Executive summary
Recommendations for CSPs
The mobile wallet market, although attractive, is fraught with challenges for CSPs
The mobile wallet market is a highly competitive, low-margin business
Apple Pay SWOT analysis
Apple Pay combines the right elements to become a disruptor in the mobile payments space
- Key partnerships: Apple's partnerships will enable it to rapidly scale Appleand Pay in the USA and abroad
- Security features: Apple's hardware and software components are tightly integrated to provide security and prevent fraud
- Competitive advantages: Strong device sales allow Apple to avoid aggressive monetisation of services that support its ecosystem
- Competitive advantages: Apple will be able to rapidly reach scale thanks to its digital content sales and distribution experience
- Competitive advantages: Apple has honed its retail and payments experience expertise thanks to the Apple Stores
- Favourable externalities: Apple has timed the launch of Apple Pay to coincide with the mandated roll-out of EMV payment systems in the USA
- Favourable externalities: Mobile financial services and commerce are the fastest-growing digital economy app categories
- Favourable externalities: iPhone users are more inclined to make purchases using their mobile phones than non-Apple users
- Apple Pay at a glance: Token provisioning process
- Apple Pay at a glance: POS payment process
About the authors and Analysys Mason

List of figures

Figure 1: The competitiveness of the mobile wallet market, based on the Porter five forces model
Figure 2: The Porter five forces model applied to the mobile wallet market for CSPs
Figure 3: Apple Pay's strategic advantages
Figure 4: Comparison of Apple's and CSPs' negotiation power in the mobile payments market
Figure 5: Key components of Apple Pay
Figure 6: Comparison of Apple's and CSPs' security features in the mobile payments market
Figure 7: Comparison of Apple's and CSPs' business model in the mobile payments market
Figure 8: Comparison of Apple's and CSPs' online presence in relation to the mobile payments market
Figure 9: Comparison of Apple's and CSPs' retail footprint in relation to the mobile payments market
Figure 10: Penetration of apps by category, and corresponding growth between 2011 and 2013
Figure 11: Smartphone users' tendency to purchase physical and digital items via mobile devices, by device type, USA
Figure 12: Apple Pay token provisioning process (simplified)
Figure 13: Apple Pay contactless payment authorisation process (simplified)

Company coverage
7-Eleven
American Express
Apple
ATand T
Authorize.Net
Bank of America
Barclays
Best Buy
Capital One
Chase
Chase Paymentech
China UnionPay
Citi
CyberSource
First Data
Google
Kmart
MasterCard
Navy Federal Credit Union
PNC
Stripe
T-Mobile
TSYS
USAA
U.S. Bank
Verizon
Visa
Walmart
Wells Fargo

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