Summary 1
Catalyst 1
Ovum view 1
Key messages 2
M-commerce will experience a renaissance in 2010 as ecosystem players make renewed efforts 2
Crucially for banks, m-commerce is the most easily addressable segment of mobile payments 2
M-commerce needs to step out from the shadow being cast by emerging payment mechanisms 2
Ecosystem players have been aiming at the wrong next-generation payments technology target 2
M-commerce acts as the vital foundation layer to next-generation mobile payment initiatives 2
The growth of m-commerce is not inhibited by technological concerns, and banks can avoid large-scale re-engineering 2
Retail banks must not procrastinate: the time for action is now 2
Technology vendors must emphasize their underlying role in m-commerce activities 3
Tesco could leverage its assets to create a devastating m-commerce triple-play 3
table of contents 3
Market Context: The Renaissance of M-Commerce in 2010 4
M-commerce may experience a renaissance in 2010 as players renew their efforts 4
Banks' interest in m-commerce is growing as mobile banking initiatives take root 6
Phases 1 and 2: create awareness and stimulate interaction 8
Phases 3 and 4: launch-fee based services and achieve full engagement with consumers 8
Retailers are anxious to reap the benefits of m-commerce to drive revenues 9
Understanding the growth potential of m-commerce in the retail sector 10
Mobile operators continue to play an active role in m-commerce and mobile payments 10
Learning the painful lesson from SimPay: m-commerce is impossible without a banking partner 10
Increasing data services helps combat declining average revenue per user but causes a dilemma 11
Commercial arrangements between operators and financial services providers continue to emerge 11
M-commerce is the most easily addressable segment of mobile payments 12
NFC is the largest market opportunity in mobile payments but cannot be tapped in the short term 12
Online commerce is a huge market and the neatest match for m-commerce 12
There are opportunities for m-commerce across the e-commerce spectrum 12
Sweden and Japan are the biggest potential markets for m-commerce based on e-commerce trends 13
Business Focus: Ecosystem Players are Aiming at the Wrong Target 15
M-commerce is currently overshadowed by other emerging payment mechanisms 15
The push to promote contactless cards is underway and will drive NFC adoption in time 15
Putting NFC into context with traditional credit and debit payment cards 16
Consumer attitudes to NFC are difficult to assess due to the nascence of contactless payments 16
Retailers' attitudes to contactless payments are dominated by commercial factors 17
Fee structure is the biggest obstacle between retailers and the adoption of contactless payments 17
Industry stalemate over contactless presents m-commerce with an opportunity to come to the fore 17
M-commerce acts as the foundation layer to other mobile payment initiatives 18
Short term (present to three years) 18
Medium term (three to seven years) 18
Long term (seven or more years) 19
Business model innovation is required to take advantage of m-commerce 19
Retailers are the public face of m-commerce 19
Mobile operators 19
Device manufacturers 19
Platform providers 19
Card issuers and merchant acquirers 19
Card schemes 20
Technology Focus: Creating Seamless, yet Secure M-Commerce Services 21
For banks, technology is not a major inhibitor to the growth of m-commerce in 2010 21
Technology can create a positive consumer experience when conducting m-commerce activities 22
Security remains the dominant enabling factor for m-commerce 22
M-commerce demands additional layers of security to protect the integrity of sensitive data 22
Mobile operators must be able to meet specific technological and operational needs 22
The impact of m-commerce technology on consumers demands key consideration 23
Security is important to consumers, but convenience is the deal-breaker 24
Retailers must also optimize the customer experience 25
The compromise that all stakeholders must make is between their desire to offer convenience while retaining control over payment security 25
Recommendations 27
Recommendations for banks 27
Be decisive over the tactical role of m-commerce as part of strategic initiatives in mobile banking 27
Work with retailers to extend existing services and promote the benefits of m-commerce 28
Recommendations for technology vendors 29
Vendors should identify how their solutions can play a beneficial role in the m-commerce framework 29
Ensure messages surrounding security and fraud prevention technologies resonate strongly 29
Alternative view 29
Tesco could leverage its portfolio of assets to change the game where m-commerce is concerned 29
M-commerce pillar 1: Retail 30
M-commerce pillar 2: Mobile 30
M-commerce pillar 3: Banking 31
A little is actually a lot: Tesco has a unique triple-play proposition in m-commerce 31
Appendix 32
Ask the analysts 32
Definitions 32
Source references 33
Further reading 34
Methodology 34
Disclaimer 34
List of Tables
Table 1: The components of informational and transactional mobile banking services 7
Table 2: Contactless cards in the UK: the numbers in context 16
List of Figures
Figure 1: Key players in the mobile payments ecosystem 5
Figure 2: Mobile banking is the second most important channel for increased IT investment during 2010 7
Figure 3: Banks plan to invest in mobile payments technology in 2010 as a foundation for m-commerce 9
Figure 4: The scale of e-commerce demonstrates the opportunity for the m-commerce ecosystem to develop 13
Figure 5: Based on the trends in the online commerce market, Sweden and Japan are among the most attractive markets for m-commerce 14
Figure 6: An m-commerce framework is created using solutions from different players in the ecosystem 21
Figure 7: The correlation between convenience and payment tool choice is overwhelmingly positive, 2009 24
Figure 8: M-commerce necessitates key parties striking a balance between convenience and control 26
Figure 9: Banks should deploy platforms capable of handling any-to-any payments 28
Figure 10: Tesco could leverage its assets for an m-commerce triple play 30
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