A survey commissioned by IMS Research shows that 60% of consumers were interested in mobile payments. This is one of the main findings from the published report The World Market for Payment and Banking Cards – 2012 Edition.
IMS surveyed 700 consumers from China, Japan, Poland, South Korea, Turkey, the U.K. and the U.S. Some 60% of respondents were either “very interested” or “interested” in a mobile phone that could replace their bank card.
“The most positive countries who were interested in mobile phones replacing their bank cards were China, South Korea, Poland and Turkey respectively,” stated Don Tait, senior analyst at IMS Research’s Financial and ID Technology Group and the report’s author.
In 2011, an estimated 35 million NFC-enabled handsets were shipped globally. “Apart from Apple, virtually all of the leading smart phone manufacturers have launched NFC-enabled handsets over the last 18 months,” Tait states. “This bodes well for the technology and applications such as mobile payments. With ISIS finally launching its NFC payments and offers service in Austin, Texas and Salt Lake City, Utah last week and Google Wallet updating its offering to include peer-to-peer payment, momentum is certainly behind NFC.”
That said payment cards aren’t going anywhere. “How long has the ‘paperless office’ and ‘cashless society’ taken to come to fruition? The death knell of a payment and banking smart card as a form factor is still a long way off. Indeed, IMS Research predicts that 3.4 billion smart payment cards will be shipped in 2017, compared to the 1.1 billion in 2011,” Tait states.
The IMS Research report, The World Market for Payment and Banking Cards – 2012 Edition, examines these issues along with presenting forecasts for more than 50 individual countries. The report also provides a discussion on different products, implementations, technologies and standards as well as presenting the market by card type – credit, debit, prepaid, ATM-only – authentication type (SDA, DDA, CDA), IC shipments plus much more.