Where is the Money in Near Field Communications?
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Near Field Communication (NFC) is a technology that may be utilized for high-speed high-volume applications and is well suited to consumer payments, especially micro-payments. This report evaluates NFC and presents a detailed description of the business case for NFC for various stakeholders. It identifies key stakeholders, types of opportunities they can capitalize, and analyzes current players in the field.
This research dispels many myths associated with NFC. Readers of this document will be better prepared to decide if they want to pursue investments in this industry and what areas to focus for optimal success. The report includes critical analysis as well as many valuable insights and commercial recommendations.
Organizations Interviewed for Report:
- Accenture
- Alcatel-Lucent
- Belgacom BICS
- Gemplus Trivnet
- MACH
- MAP International
- MasterCard
- Mitsui Ventures
- Monitise
- Obopay
- PayPal
- SIMPAY
- SMART
- SMART MONEY
- Sony Felica
- Telefonica Group
- Tranglo
- Transfer 2
- Ukash
- Vodafone UK
- World Cash Transfers
Audience:
- NFC suppliers
- Mobile network operators
- Mobile commerce application providers
- Mobile marketing and commerce vendors
- Manufacturers, merchants, and advertisers
Table of Contents:
ABSTRACT 1
TABLE OF CONTENTS 2
EXECUTIVE SUMMARY 5
Role of Branding 6
Developing Markets 7
Industry Initiatives and Open Loop Systems 7
Patience is Needed 8
MNOs and Banks 9
Market Movers 10
Role of Branding 6
Developing Markets 7
Industry Initiatives and Open Loop Systems 7
Patience is Needed 8
MNOs and Banks 9
Market Movers 10
REVIEW OF NFC TECHNOLOGY 12
NFC TECHNOLOGY 13
Standards 14
Card Types 14
Standards 14
Card Types 14
STRONG USER AUTHENTICATION VS. SPEED AND EASE OF USE 15
The Key to Succeeding 15
Open Web vs. Walled Garden15
Risk 16
Securing Each Transaction- No Matter How Small 17
Alternative Technologies (EMV) 18
User Authentication 19
Sales Abandonment Rates 20
Non-Repudiation 20
Multi-factor Authentication 21
The Key to Succeeding 15
Open Web vs. Walled Garden15
Risk 16
Securing Each Transaction- No Matter How Small 17
Alternative Technologies (EMV) 18
User Authentication 19
Sales Abandonment Rates 20
Non-Repudiation 20
Multi-factor Authentication 21
NFC APPLICATIONS 22
PAYMENT 23
ACCESS CONTROL27
LOYALTY – AFFINITY GROUPS 30
SMART ADVERTISEMENTS 32
LOCATION BASED SERVICES 34
MARKETING AND CUSTOMER ENGAGEMENT 35
SOCIAL NETWORKING 37
OTHERS 38
MOBILE PAYMENTS AND NFC 38
MOBILE WALLET 40
INTEGRATED IN HANDSETS 41
INTEGRATED IN SIM CARDS 41
MOBILE COMMERCE 41
MOBILE BANKING42
ETICKETING 43
ACCESS APPLICATIONS 43
THE VALUE CHAIN 45
STAKEHOLDERS 47
PUBLIC TRANSPORTATION AUTHORITIES 47
BANKS 47
CREDIT CARDS 48
MOBILE OPERATORS 48
The challenge to Existing Ecosystems and Business Models 48
The challenge to Existing Ecosystems and Business Models 48
PAYMENT SERVICE PROVIDERS 49
CLEARING HOUSES 49
TECHNOLOGY PROVIDERS 50
RETAILERS 50
END USERS 51
REGULATORY ISSUES 52
Business Models for Dealing with Prepaid Purchases54
Business Models for Dealing with Prepaid Purchases54
KEY PLAYERS ALREADY IN THE MARKET 55
INDUSTRY COMPARABLES- MOBILE REMITTANCES: 60
BUSINESS CASE 65
TRANSPORTATION AUTHORITIES 68
CREDIT CARDS 68
MERCHANTS 70
SUCCESS FACTORS- WHO CAN DRIVE ADOPTION 71
CASE STUDIES 73
MOBILE MONEY ECOSYSTEMS 73
Case Study- Web Payment for Digital Content 74
PayPal and i-Mode Growth- Successful Implementations of Growing Payment Processing Loop 74
Case Study- Mobile Payment for Online Gambling 75
Case Study- Mobile Banking 75
SUCCESSES 76
Japan- Suica 76
Hong Kong- Octopus 79
Characteristics82
Singapore- EZ-Link 82
UK- Oyster 84
Case Study- Web Payment for Digital Content 74
PayPal and i-Mode Growth- Successful Implementations of Growing Payment Processing Loop 74
Case Study- Mobile Payment for Online Gambling 75
Case Study- Mobile Banking 75
SUCCESSES 76
Japan- Suica 76
Hong Kong- Octopus 79
Characteristics82
Singapore- EZ-Link 82
UK- Oyster 84
ROLL-OUTS IN PROGRESS 84
Denmark 85
Alcatel-Lucent85
Gemplus/Trivnet 87
PayPal88
MasterCard 89
Google Wallet91
Partners 92
Competitors 92
ISIS 93
Denmark 85
Alcatel-Lucent85
Gemplus/Trivnet 87
PayPal88
MasterCard 89
Google Wallet91
Partners 92
Competitors 92
ISIS 93
IN THE PIPELINE 97
APPLICATIONS 97
TIE-INS WITH OTHER APPLICATIONS AND SERVICES 97
STORED VALUE ACCOUNT MICROPAYMENTS FOR BOTH ONLINE AND ‘HIGH STREET’ TRANSACTIONS 97
CONCLUSIONS AND COMMERCIAL RECOMMENDATIONS100
GLOSSARY – ABBREVIATIONS AND NOTATIONS 102
APPENDIX 1: REFERENCE SOURCES 108
APPENDIX 2: LIST OF INTERVIEWEES110
APPENDIX 3: MOBILE MONEY DEPLOYMENTS WORLDWIDE 112
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