[Infographic] The who, what and where of mobile payments

Posted In Mobile Web - By Ryan On Thursday, September 8th, 2011 With 0 Comments

One of the hottest sectors in the mobile industry right now is mobile payments. While all the particpants are busy elbowing each other in the ribs, trying to prove that they have the magic beans needed to create a beanstalk, there are still many hurdles to overcome – like operator charges that eat into profit margins for tangible goods.

To help shed light on all the different roleplayers and how their offerings fit into the mix, Mobile Payments Today created the infographic below that quickly paints a picture of where things are at right now.

The five types of mobile payments include:

  • Mobile at the point of sale (the mobile wallet), using services like near-field communications (NFC), and offered by companies like Google Wallet and ISIS
  • Mobile as the point of sale (every smartphone is a cash register), where merchants use the mobile phone to process transactions, and offered by companies like Square and VeriFone
  • The mobile payment platform (the ‘everything else’ mobile payments solution), where users send cash to merchants or each other (p2p payments), and offered by companies like PayPal and Serve
  • Direct carrier billing (allowing users to pay for content on their mobile phone account), also called ‘in-app billing’, and offered by companies like Zong and Boku
  • Closed-loop mobile payments (using mobile phones as store credit cards), where users purchase at stores using a customised mobile payment option for that store, offered by companies like Starbucks

According to Juniper Research, $670 billion in mobile payments will be processed by 2015. Yankee Group puts this at $1 trillion. Either way, there’s a lot of money to be made from a simple shift of money from one person to another. Ain’t life in the 21st century grand?

About - With at least 20 phones tucked away in drawers around the house and office, Ryan is a buy-to-try mobile consumer and loves playing with new handsets. Right now he's stuck on the iPhone 4.

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