How Mobile Payments Will Create the Most Significant Revenue Opportunities of the Decade for Financial Institutions

Financial institutions (FIs) have been cautious entrants into this space, leaving the door wide open for a leader to emerge and gain significant first mover advantages.

The emerging race is resulting in new business models forming. We believe the future is open and financial institutions should align with open platforms to thrive—a closed system cannot leverage the wide variety of parties required to move the ecosystem forward.

While mobile operators, financial services firms, and retailers have been evaluating the feasibility of mobile payments since early 2000, recent developments on both the supply and demand side are prompting the key players in the value chain to get serious about its potential. Sitting on the sidelines is no longer an option.