Globally, mobile payments will represent 15% of all cards transactions by 2013, and will overcome plastic volumes within 10 years if growth continues at the same rate, claims the World Payments Report from RBS, Capgemini and Efma.
It will be interesting to see what proportion of "mobile payments" still involve a bank account or card payment in the transaction flow, ie. if an account is funded by bank or card payment, then banks will not be disintermediated. We should differentiate
between a "mobile initiated" transaction which may still involve a bank or card transaction, and a mobile payment which does not....the bank vs. non-bank / /telco/scheme/Apple/Google battle continues.... :)
Philip Harrison, Managing Director, Clairmail Mobile Solutions
Mobile Banking and Mobile Payments
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