GEC NEWS WIREGartner Says By 2018, 50 Percent of Consumers in Mature Markets Will Use Smartphones or Wearables for Mobile Payments
Mobile payments are gaining acceptance among consumers in North America, Japan and some countries in Western Europe, according to Gartner, with half of consumers in mature markets expected to be using smartphones or wearables for mobile payments by 2018. This is just one of many innovations impacting customer preferences in the personal technologies market.
“Product managers must understand who their customers are for these new devices and services, and how the products are being used.” said Amanda Sabia, principal research analyst at Gartner.
When it comes to mobile payments, there are three types of mobile payments or mobile wallets available now: smartphone or wearables-based payments, branded mobile wallets from banks or credit card providers, and branded mobile wallets from retailers such as Starbucks.
“Any mobile payment wallets that are tied to the device will have limited adoption and only if the device has a huge installed base,” said Annette Jump, Research Director at Gartner. “Instead, cloud-based solutions will have a better chance to succeed as they can reach a wider audience and can support many use cases beyond face-to-face or in-store options. Also, mobile payment and mobile wallet adoption requires a country-by-country rollout plan with an enabled payment infrastructure and agreement with major banks and retailers.”
Gartner also predicts that By 2018, 75 percent of TV-style content will be watched through application-based services in mature markets and By 2019, less than 20 percent of users in mature markets will subscribe to mobile data-only connections.
