October 17, 2011 08:00 AM Eastern Daylight Time
DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Google Wallet and the New Payments Ecosystem" report to their offering.
As a result, both Isis and the Google Wallet products are creating a simple strategy which lets the payment ecosystem continue to charge and earn as much as possible from the payments business. The new revenue these companies seek to earn comes from two vulnerable industries: advertising and loyalty. Google, with its extreme interest in data collection and distribution, will likely seek new revenue from that channel also.
Mobile payments is starting over. When the Google Wallet launched on September 20, 2011, the first test of a remarkable new financial ecosystem began. But despite the apparent success of traditional mobile payments products like M-PESA in Kenya and South Africa, Google and rival Isis have decided to rewrite the business model - and for good reason.
The strategies of these two companies, which are likely to be eventually joined by Apple and Amazon in their approach, has substantially slowed mobile commerce development in the rest of the developed world. Even Japan, which has used an NFC-like technology for most of the last decade, is highly interested in understanding the results of the American experiments before committing to a long-term strategy.
And they are not in a hurry. The only short-range communication standard with approval from the International Standards Organization is ISO/IEC 14443, known simply as Near-Field Communications or NFC. To use either the Google Wallet or Isis product as they are currently understood, the customer will either need a phone with an NFC chip built in (which is in exactly one model out of hundreds of models of mobile phones in the US - The Samsung Nexus S) and merchants will need to invest in NFC readers at their cash registers (also known as POS terminals).
Key Topics Covered:
- Executive Summary
- The current payments industry
- Vulnerability of the current payments system
- Elements of mobile commerce
- Market changes enabling mobile commerce
- Market forecast
- Conclusion
For more information visit http://www.researchandmarkets.com/research/3467b5/google_wallet_and
