Tuesday, February 28, 2012

New Parks Associates whitepaper analyzes mobile payment technologies and impact on consumer habits

New research from Parks Associates finds over 50% of U.S. broadband households want the ability to scan barcodes for product price and promotional information on their next mobile phone. The international market research firm's new whitepaper "Mobile Payment—Stepping into Uncharted Territory,” released ahead of this week's GSMA Mobile World Congress, reports 37% of U.S. mobile phone owners find the mobile wallet concept appealing, with interest highest among younger households and smartphone owners.

“For consumers, the most attractive benefit of mobile payment apps is they reduce the number of credit cards they have to carry,” said Harry Wang, Director, Mobile and Health Research, Parks Associates. “The mobile phone is the main device people use to organize their lives, and mobile payment solutions offer significant conveniences, including organizing receipts and eliminating the need to carry cash.”

"Mobile Payment—Stepping into Uncharted Territory” reports that various mobile payment technologies, including the emerging NFC-based retail mobile wallet solutions, processed over $10 billion in transactions in 2011 in the North American market alone, with consumer interest in mobile payments steadily increasing. The whitepaper highlights new types of mobile payment technologies and solutions and analyzes current and future benefits to consumers, mobile carriers, small and medium businesses, mobile app and solution developers, and brick-and-mortar retailers.

Currently, 50% of U.S. broadband households own a smartphone, and 80% of U.S. mobile phone users have a web browser on their mobile handset. Mobile payment, or mPayment, is the purchase of goods or services (physical, digital, or virtual) for which a mobile phone is used in the payment process, either in person, in a retail store, or remotely, using mobile broadband access or cellular network infrastructure.

Harry Wang is attending Mobile World Congress in Barcelona this week. Contact Parks Associates to request a meeting.

Download the whitepaper at http://www.parksassociates.com/mobilepayment or contact 972-490-1113, sales@parksassociates.com.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

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