WIRELESS PAYMENTS: 
The New Payments Paradigm 
2005 To 2010

WIRELESS PAYMENTS: A PARADIGM SHIFT IN THE MAKING

The number of individuals worldwide who possess cell phones is hurtling toward the 2 billion mark, and the amount continues to grow – and grow rapidly.  It exceeds that of people with bank accounts.  It also exceeds the number of people who carry credit cards.  The anytime/anywhere communications made possible by cell phones and even newer capabilities such as GPS now opens a whole new opportunity floodgate: that of cell phones as a payment method, perhaps one day rivaling the almost universal status of cash and credit cards. 

Payments historically have been within the domain of banks.  However, the needs of wireless carriers and mobile consumers are opening the market to new players such as telecom concerns. Business models in the telecom industry have been forever changed by competition and technology.  Financial institutions are now entering a period where their business models are changing as well. Their common ground may indeed prove to be wireless payments.

While the changes to date may be almost imperceptible in the U.S., developments in Asia, Europe and even the Middle East suggest it is only a matter of time before they sweep across North America.  And these changes will be far reaching.  Some wireless payments systems already in place not only allow consumers to render payments, but more importantly enable consumers to manage their financial accounts, such as checking balances or reviewing recent transactions. Some programs even allow consumers to review and manage merchant rewards programs with their wireless handsets.   The possibilities are staggering and reverberate across industry boundaries.

“Wireless Payments: The New Payments Paradigm - 2005 To 2010” promises to emerge as a landmark study that envisions a market gripped by change…a change that will be disruptive, pervasive and enduring. The PELORUS Group’s new report takes a bold and unprecedented look at the dynamics behind this change, and gauges the extent of its growth. Moreover, it assesses the impact both to carriers and financial concerns, and does so in both a U.S. and global perspective.  The report further analyzes the technology and the market drivers that will enable wireless devices to take significant market share from traditional payment modes and processors, and in candid and compelling fashion, explains why.

All market forecasts are through the year 2010. 
Price $3,995.00 US
Publication Date: October 2005

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