Banks in Race to Monetize Mobile Payments Space: Kpmg Report

U.S. Newswire › July 13, 2011

Linked as:

Summary

NEW YORK, July 13, 2011 /PRNewswire/ -- Faced with growing competitive threats from non-traditional sources, such as alternative payment providers, banks around the world have aggressively swung their attention to emerging mobile platforms to defend their payments revenues, according to a new report from KPMG International.

Adding to the urgency, according to a KPMG survey conducted as part of the report titled Monetizing Mobile: How Banks Are Preserving Their Place in the Payment Value Chain, 84 percent of banking and financial services (FS) executives said mobile payments will have significant importance to their business within the next one to four years. Furthermore, 73 percent suggested that mobile payments would be mainstream within the next four years.

See the full content of this document

Extract

Banks in Race to Monetize Mobile Payments Space: Kpmg Report

"Leading banks are working feverishly to stay ahead of their peers and the new players in this space by developing mobile payments solutions, getting actively involved with standards setting, an...

See the full content of this document