October 12, 2011 08:24 AM Eastern Daylight Time
- 90 percent of smart phone users have used mobile payments at some stage, however less than 50 percent have used them in the last 6 months
Prepaid Summit: Europe 2011
LONDON--(BUSINESS WIRE)--According to new research unveiled at the Prepaid Summit: Europe 2011 yesterday, penetration of mobile payments is high among smartphone users, but security concerns and a general lack of awareness are still presenting barriers to adoption. The research, presented at the conference in Milan, was carried out by TNS Italia, a leading research provider, in conjunction with VRL, market intelligence specialist and publisher of Cards International magazine
“It is also clear from the research, that a lot of work needs to be done in terms of understanding consumers’ security concerns and acting on them.”
James Ratcliff, Group Editor of Cards International and Electronic Payments International, said; “It is not good enough to simply offer consumers the facility to make payments on their phone. You need to clearly demonstrate the benefits of the service in order for it to truly take off. “This means all industry stake-holders – banks, telcos and retailers in particular – coming together to offer incentives to drive adoption,” he said. “It is also clear from the research, that a lot of work needs to be done in terms of understanding consumers’ security concerns and acting on them.
Prepaid Summit Europe 2011 was the 6th annual conference to be held in association with Cards International and Electronic Payments International. This year the impact of various incoming pieces of regulation sparked interesting debate, and delegates were particularly keen to discuss opportunities in mobile and e-commerce. Senior level executives gathered to hear key note addresses from some of the industry’s biggest players, including; Matt Lanford, Head of Prepaid Products Europe and Alessandra Grassi, Global Products and Solutions, Prepaid Product Development from MasterCard; Greg Sheppard Head of Business Development within the Prepaid Centre of Excellence from Visa; Gary Palmer President from Wave Crest; Laura Kelly, SVP, Global Product & Marketing from American Express; Catherine Moore, Executive Director, JP Morgan; Millind Kangle, CEO Lyca Mobile and many more high calibre speakers.
Sponsors for 2011 include MasterCard Worldwide (Platinum Sponsor), Visa (Gold Sponsor), American Express and Wave Crest (Silver Sponsors), Ukash (Sponsors) Epipoli and www.mygiftcard.it (Session Sponsors and Exhibitors), IDT Finance, MTL and SCL (Exhibitors) and Bluerock (Lunch sponsors), the event is also supported by the Prepaid International Forum trade association.
