|By PR Newswire||
|February 6, 2014 10:01 AM EST||
LONDON, Feb. 6, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report:
Exploring Financial Mobility and Potential for National Adoption
This market insight analyzes the growth drivers for mobile payment services in Brazil and evaluates key stakeholders, market perspectives, forecasts, challenges, and opportunities. The study includes a forecast from 2013 to 2018 and key focus areas are as follows: the primary trends, a market assessment and forecast, and case studies—including an evaluation of the service Zuum, created by Telefonica in partnership with MasterCard. This research is comprised of primary and secondary sources.
Key Study Findings
• The mobile payment industry is entering a defining phase, and smart decisions will be crucial
• Fundamental ingredients to any initiative in this market include:
oEasy of use
• Success will be contingent on:
oUnderstanding of the local market, the customers, and the regulations
oInnovating and commitment to invest resources into new initiatives
oBeing unafraid to forge partnerships with new participants
• According to Frost & Sullivan estimates, there will be Xmillion registered mobile payment users in Brazil by 2018
Mobile services customers in Brazil have a perception of low Quality of Service (QoS), especially for mobile broadband services. As a result, the regulator Anatel registers a high number of customer complaints at its call center (a 2nd-level complaint is when the user cannot solve the problem in the operator's customer care service). Therefore, mobile payment providers must put effort in to gain confidence of users because financial services rely on reputation. In addition, providers may use technologies such as SMS and USSD, which do not depend on mobile broadband infrastructure, to provide mobile payment services nationwide.
The regulation of mobile payment services is the first step to clarify the role of each stakeholder in the value chain. Legal security must also be supplied for operators to launch mobile payment services and invest in the coverage expansion. In addition, merchants are an important piece of the market as they interface with those using the service.
Research Objectives, Scope, and Methodology
This study focuses on analyzing what mobile carriers are doing regarding mobile payment services in Brazil. The key focus areas of the research are as follows:
• Main trends for mobile payment
• Market assessment and forecast
• Case studies in Brazil
• Geographic coverage: Brazil
• Forecast period: 2013–2018
• Base year: 2012
• Monetary units: US dollars
Primary research was conducted, and secondary research included Frost & sullivan online database, market participants' financial reports, and regulators' Web sites.
• Interoperability: Interoperability is the integration of different systems and platforms to allow financial transactions from one company to another; interoperability remains a challenge as the current services are isolated partnerships between banks, mobile operators, and merchant acquisitions.
• SMS/USSD-based Transactional Payment: Technologies used for data transmission utilize mobile operators' platforms. Both SMS and USSD can be used without Internet access (subscription to a data plan), or access to a smartphone. Almost any device can use these technologies.
• Direct Mobile Billing: This is a payment method for acquiring goods and services with a mobile phone, with direct billing on the customer's monthly bill (for contract customers) or prepaid credits (for prepaid customers). This method requires a pin and a password to make the payment transaction.
• Wireless Application Protocol (WAP): This is a protocol used by mobile operators to offer Web browsing, which was popular before the introduction of smartphones. As data transmission protocol, it can be used for mobile payment services transactions.
• Near-field Communication (NFC): This is a communication protocol for short-range transactions. A consumer using a mobile phone equipped with NFC waves his phone near a reader module to make mobile payment transactions
• Telcos: Telcos is defined as telecommunications service providers.
Table of Contents
Executive Summary 6
Key Definitions 9
Current Scenario 11
Key Stakeholders 17
Market Perspectives 20
Market Challenges and Opportunities 22
Mobile Payment Case Study—Zuum 25
The Frost & Sullivan Story 41
Read the full report:
Hot Topic—Mobile Payment Services in Brazil
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