From the Business Wire press release of Dove Consulting firm in USA, made in the U.S. market: mobile banking is by far the preferred solution for Americans to access their bank! Payment between people using mobile (Person to Person Mobile Payment) has no currently foreseeable future in the country of Uncle Sam In contrast to Africa where the P2P Payment is strongly requested.
Excerpt from press release:
"Consumers Across the United States are ready to Adopt a Broad Set of mobile commerce applications, According to new research from Dove Consulting, a division of Hitachi Consulting. The research, sponsored by PSCU Financial Services, was conducted using focus groups in multiple cities, and gauged consumer interest in and predicted future use of three major mobile applications: mobile banking (using a mobile device to access banking information), mobile payment at the point-of-sale (using a mobile device to make purchases), and mobile person-to-person payments (using a mobile device to send money to another mobile device).
When asked which of these mobile applications they were most excited about using, nearly two-thirds of study participants chose mobile banking and 30 percent chose mobile payment at the point-of-sale. Only a handful indicated they were excited about mobile person-to-person payments.
According to Chris Allen, a director with Dove Consulting and head of the payments strategy team, these results are in line with the direction the financial services industry is moving. “Given everything financial institutions have done to encourage the adoption of mobile banking, it isn’t surprising that more people are comfortable with the technology and interested in using it. I expect as more applications are developed that allow people to use their phones and mobile devices to pay for goods and services, consumer interest in this technology will grow and we will see it move into the mainstream, probably within the next two-to-four years.”
Participants indicated they are ready to start using mobile banking and mobile payment at the point-of-sale now. For both applications, adoption is likely to begin with a smaller group of tech-savvy users embracing the applications early, and the majority of consumers adopting soon afterwards once the product is more established. Person-to-person mobile payments did not resonate as strongly with participants, with few indicating they would adopt at any point in time.
“The results of this research confirmed our view that mobile services are something that consumers are ready for,” said Kent Potterton, Director of Credit Services and New Product Development at PSCU Financial Services. “This was one of our primary motivations for adopting mFoundry’s mobile financial platform and enabling our credit unions to offer mobile banking and mobile bill payment services to their membership.”
Convenience is the most compelling feature of both mobile banking and mobile payment at the point-of-sale. Participants cited the ability to perform banking functions, such as check balances and pay bills, from anywhere without the need of a computer as the major convenience of mobile banking, and the prospect of no longer carrying a wallet as the major convenience of mobile payment at the point-of-sale. Conversely, participants indicated security and fraud were their main concerns regarding these mobile applications, wondering what would happen if their mobile devices were lost or stolen.
Copyright Business Wire, pour Dove Consulting.
Excerpt from press release:
"Consumers Across the United States are ready to Adopt a Broad Set of mobile commerce applications, According to new research from Dove Consulting, a division of Hitachi Consulting. The research, sponsored by PSCU Financial Services, was conducted using focus groups in multiple cities, and gauged consumer interest in and predicted future use of three major mobile applications: mobile banking (using a mobile device to access banking information), mobile payment at the point-of-sale (using a mobile device to make purchases), and mobile person-to-person payments (using a mobile device to send money to another mobile device).
When asked which of these mobile applications they were most excited about using, nearly two-thirds of study participants chose mobile banking and 30 percent chose mobile payment at the point-of-sale. Only a handful indicated they were excited about mobile person-to-person payments.
According to Chris Allen, a director with Dove Consulting and head of the payments strategy team, these results are in line with the direction the financial services industry is moving. “Given everything financial institutions have done to encourage the adoption of mobile banking, it isn’t surprising that more people are comfortable with the technology and interested in using it. I expect as more applications are developed that allow people to use their phones and mobile devices to pay for goods and services, consumer interest in this technology will grow and we will see it move into the mainstream, probably within the next two-to-four years.”
Participants indicated they are ready to start using mobile banking and mobile payment at the point-of-sale now. For both applications, adoption is likely to begin with a smaller group of tech-savvy users embracing the applications early, and the majority of consumers adopting soon afterwards once the product is more established. Person-to-person mobile payments did not resonate as strongly with participants, with few indicating they would adopt at any point in time.
“The results of this research confirmed our view that mobile services are something that consumers are ready for,” said Kent Potterton, Director of Credit Services and New Product Development at PSCU Financial Services. “This was one of our primary motivations for adopting mFoundry’s mobile financial platform and enabling our credit unions to offer mobile banking and mobile bill payment services to their membership.”
Convenience is the most compelling feature of both mobile banking and mobile payment at the point-of-sale. Participants cited the ability to perform banking functions, such as check balances and pay bills, from anywhere without the need of a computer as the major convenience of mobile banking, and the prospect of no longer carrying a wallet as the major convenience of mobile payment at the point-of-sale. Conversely, participants indicated security and fraud were their main concerns regarding these mobile applications, wondering what would happen if their mobile devices were lost or stolen.
Copyright Business Wire, pour Dove Consulting.
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