“In parts of Africa, Asia, and Latin America which generally lack good tools for convenient P2P transactions other than face-to-face, mobile payment methods will be huge.”While there were differences across age groups and between countries, the overall results showed that only 16% of Western Europeans surveyed considered themselves “extremely” or “very” interested in mobile P2P payments, while in the United States, the percentage was only 9%. Consumers in the three Asia Pacific countries showed much greater interest – 34%.
According to senior analyst Mark Beccue, “It’s tough to make a convincing case for mobile P2P in most developed markets. This survey confirms ABI Research’s assessment of mobile P2P’s potential in the United States and Europe. We believe it will have minimum impact in these markets because some forms of electronic P2P such as PayPal have operated there for several years with relatively low market penetration; and because these markets boast extensive ATM and banking networks, giving consumers easy access to cash to conveniently conduct P2P transactions.”
If a similar survey were to be conducted in developing markets the results would likely be very different, says Beccue. “In parts of Africa, Asia, and Latin America which generally lack good tools for convenient P2P transactions other than face-to-face, mobile payment methods will be huge.”
The survey results are summarized in chart form and interpreted in a new ABI Research Brief, “Mobile Person-to-Person Payments” (http://www.abiresearch.com/research/1004866).
It is part of the firm’s Mobile Money Research Service (http://www.abiresearch.com/products/service/SE-MOMO) which also includes other Research Briefs, Research Reports, Market Data, ABI Insights, ABI Vendor Matrices, and analyst inquiry support. ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advise thousands of decision makers through 28 research and advisory services. Est. 1990. For more information visit www.abiresearch.com,
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| From the February Issued of Digital Transaction News |
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