MOBILE WALLET SERVICES

Transcription

1 MOBILE WALLET SERVICES INDEX Index Table of contents Table of contents... i List of figures... vi Executive summary Introduction to mobile wallets Introduction Mobile wallets and value-added services Opportunities to engage with consumers in new ways Threats to the structure of the payments value chain Overview of the card payments industry The transaction process in card payments Costs of a card payment transaction Revenue distribution in the card payments industry Card payments and household consumption expenditures Breakdown of household consumption expenditures Card payment volumes Mobile payment technologies NFC D barcodes Identification numbers and tags Other technologies Acceptance at the point of sale Overview of the POS terminal market Installed base of POS terminals Form factors Acceptance of mobile wallets at the POS Rollout of NFC-ready terminals Acceptance of Visa and MasterCard contactless payments Acceptance of value-added services at the point of sale STRATEGIC VAS RESEARCH SERIES i

2 INDEX MOBILE WALLET SERVICES 2.3 POS terminal vendors Equinox Payments ID Tech Ingenico PAX Technology Spire Payments VeriFone Mobile handsets Overview of the mobile handset market Mobile subscriptions and unique mobile users Smartphone platform market shares Smartphone ecosystem developments NFC and secure elements in mobile handsets NFC handset availability and sales accelerated in NFC solution architectures and chipsets for handsets TSMs and mobile wallet platforms Trusted service managers Overview of SEI-TSM and SP-TSM solutions Commercially live SEI-TSM projects Commercially live SP-TSM projects TSM projects live and under implementation Mobile wallet platforms Competitive landscape Overview of a mobile wallet platform Commercially live mobile wallet deployments TSM and wallet platform vendor profiles AIRTAG C-SAM Cardtek Group Corfire Gemalto Giesecke & Devrient ii STRATEGIC RESEARCH SERIES VAS RESEARCH SERIES

3 MOBILE WALLET SERVICES INDEX Fiserv MasterCard Monitise Oberthur Technologies Morpho Proxama Sequent SAP Visa Europe Mobile wallet operators Mobile wallet ecosystems Secure element issuers, service providers and wallet operators Controlling the secure element Universal wallets and merchant wallets The effective addressable market for NFC wallet services is still small The benefits and challenges faced by non-nfc wallet services The value of a mobile wallet ecosystem NFC mobile wallet service architectures Centralized architecture Decentralized architecture Hybrid architecture Open architecture Business models Interchange and other acceptance fees Secure element access Presence in the wallet Value-added services Services to issuers and acquirers Improve position in an adjacent market Case studies Apple launches Passbook Google moves to a staged model for mobile wallet services STRATEGIC VAS RESEARCH SERIES iii

4 INDEX MOBILE WALLET SERVICES ING plans rollout of mobile wallet services in Europe LevelUp drives traffic to merchants with offers and mobile payments Mobito is a mobile wallet available to everyone in the Czech Republic Orange expands wallet services and plans new launches Samsung announces wallet and embedded secure element in new devices SEQR builds a new payment network and rolls out a mobile wallet service Swedbank launches mobile payment services in Sweden Swedish MNOs launch mobile wallet joint venture Telefónica sees mobile wallet opportunity in value-added services Turkcell pioneers mobile wallet services in Turkey US carriers launch the Isis wallet service US retailers form MCX consortium Visa launches the V.me wallet with initial focus on ecommerce Value-added services The revenue potential of value-added services Local advertising is big business The use of location data allows more advertisers to reach their customers Indoor location technologies enable new marketing possibilities Mobile phones enable personalized interactions with consumers in real-time High performance motivates premium rates Types of value-added services Coupons and offers Loyalty solutions Product information Digital receipts and warranties Case studies Cardlytics enables card-linked offers based on purchase history Foursquare generates more than 5 million check-ins per day Groupon expands with new deal formats Proximus Mobility delivers relevant ads to consumers mobile devices Scanbuy enables measureable 2D barcode campaigns Shopkick drives foot traffic and enables in-store navigation at merchants iv STRATEGIC RESEARCH SERIES VAS RESEARCH SERIES

5 MOBILE WALLET SERVICES INDEX Starbucks creates mobile payment experiences linked to loyalty programme STM launches new reward programme with real-time personalized offers The Logic Group provides loyalty as a managed service Vouchercloud locates the nearest discounts and provides directions Warrantify enables digital management of warranties and receipts Conclusions and forecasts Market trends and analysis Network effects will limit the number of universal wallets in each market Mobile wallet operators need to build capabilities in value-added services The effective addressable market for NFC wallets is small but can grow fast Alternatives to mobile operator controlled secure elements emerge The CP/CNP dichotomy will be revised MasterCard introduces new rules that affect staged wallet operators Forecasts on infrastructure for NFC mobile wallet services NFC-ready POS terminals NFC-enabled handsets Rollout of TSM infrastructure The mobile wallet market in EU Market analysis Forecasts The mobile wallet market in North America Market analysis Forecasts Glossary STRATEGIC VAS RESEARCH SERIES v

6 INDEX MOBILE WALLET SERVICES Index List of figures Figure 1.1: Typical payment transaction flow... 7 Figure 1.2: Visa interchange fees in the UK and the US... 8 Figure 1.3: Revenue distribution in card payments... 9 Figure 1.4: Card payments as a share of HCE and GDP (World 2011) Figure 1.5: Household consumption expenditures by service and product (EU ) Figure 1.6: Card payments in Europe and North America (2011) Figure 1.7: Card payment volumes (EU27 and NA ) Figure 1.8: Different forms of 2D barcode payments Figure 2.1: Installed base of POS terminals (World Q4-2011) Figure 2.2: POS terminal density by country (World 2011) Figure 2.3: Stationary and mobile POS terminals Figure 2.4: mpos devices Figure 2.5: NFC-ready POS terminals by region (World 2012) Figure 2.6: Visa paywave POS terminals (Europe 2012) Figure 2.7: PayPass and paywave POS terminals (World 2012) Figure 2.8: Acceptance of mobile wallets at the point of sale Figure 2.9: POS terminal shipments by manufacturer (World 2012) Figure 2.10: Equinox Payments POS terminals Figure 2.11: PAX Technology POS terminals Figure 3.1: Handset shipments by segment (World ) Figure 3.2: Mobile subscriptions by region (World ) Figure 3.3: Unique mobile users and mobile phones in use (World ) Figure 3.4: Smartphone shipments by vendor and OS (World 2012) Figure 3.5: Number of NFC handsets available on the market ( ) Figure 3.6: NFC handset vendor market shares ( ) Figure 3.7: Examples of commercially available NFC-enabled handsets (Q2-2013) Figure 3.8: NFC solution architectures in handsets Figure 3.9: Examples of NFC controllers and combo chipsets by vendor vi STRATEGIC RESEARCH SERIES VAS RESEARCH SERIES

7 MOBILE WALLET SERVICES INDEX Figure 4.1: SEI-TSMs and SP-TSMs in the NFC ecosystem Figure 4.2: Commercially live SEI-TSM projects (World Q1-2013) Figure 4.3: Commercially live SP-TSM projects for banks (World Q1-2013) Figure 4.4: TSM projects live and under implementation (Q1-2013) Figure 4.5: Competitive landscape for wallet platform vendors Figure 4.6: Mobile wallet platform deployments by vendor (Q1-2013) Figure 4.7: Overview of TSM and wallet platform vendors (World 2013) Figure 5.1: Examples of universal wallets Figure 5.2: Examples of merchant wallets Figure 5.3: Effective addressable market for NFC mobile wallet services Figure 5.4: The value components of a mobile wallet ecosystem Figure 5.5: Centralized architecture for NFC services Figure 5.6: Decentralized architecture for NFC services Figure 5.7: Hybrid architecture for NFC services Figure 5.8: Open architecture Figure 5.9: LevelUp offering and FTUB white-label payment solution Figure 6.1: Cardlytics offers in online and mobile banking Figure 6.2: Starbucks payments and rewards Figure 7.1: Effective addressable market for NFC wallets by region (World Q1-2013) Figure 7.2: NFC POS terminal shipments by region (World ) Figure 7.3: NFC POS terminal installed base by region (World ) Figure 7.4: Forecasts on NFC handset shipments (World ) Figure 7.5: Smartphone shipments (EU27+2 and NA ) Figure 7.6: Installed base and penetration of NFC handsets (World ) Figure 7.7: Rollout of TSM infrastructure (World ) Figure 7.8: Mobile wallet users and transactions (EU ) Figure 7.9: Mobile wallet users and transactions (NA ) STRATEGIC VAS RESEARCH SERIES vii

8 INDEX MOBILE WALLET SERVICES viii STRATEGIC RESEARCH SERIES VAS RESEARCH SERIES