Contactless technologies are starting to allow mobile phones to offer a variety of new applications, including payment, ticketing, physical access and identity management. These technologies have the potential to deliver significant benefits for all stakeholders in the payments value chain, including MNOs, financial institutions and card associations, merchants, mobile handset manufacturers and NFC chip manufacturers. The question for many operators is not whether they will implement mobile proximity payment solutions, but how and when. Navigating the complex business relationships that underlie these transactions at the same time as dealing with technology issues has proved challenging. Each market is unique in terms of the evolution of its mobile payment services, but all face similar obstacles in the evaluation and deployment of contactless solutions.
This report examines contactless payment systems in key Asian markets, including Hong Kong, Japan, Malaysia and South Korea. It analyses the factors that have contributed to their success, and considers the lessons that players can learn from these markets and use to streamline the process from trial to successful adoption in other developed markets.
Mobile proximity payments: scenarios for market development answers your key questions:
- Why has the deployment of contactless technologies in South-East Asia been so successful?
- Is there a blueprint for NFC take-up that could apply to other markets?
- What are the possible scenarios for market development?
- What course of action should different stakeholders take?
