Around
the world, cash remains a significant consumer payment instrument, but
as the 21st century shopping experience evolves, consumers who use cash
exclusively or almost exclusively will be disadvantaged as goods and
services increasingly move online.
In
many countries, in response to the prevalence of cash for payments as
well as to the low percentage of consumers with checking bank accounts
and consumers' concerns over the security of transmitting sensitive
personal and financial details online, firms have stepped up to provide
cash based alternative online and mobile payment services. These
services enable consumers to pay with cash for purchases they can
initiate online or with their mobile phones.
"New
technologies and services that reflect evolving consumer trends in
mobile phone and Internet use have emerged in markets that still have a
cash culture. Today, these firms provide services that accept cash at
agents, kiosks, or full-service bank branches to enable consumers to pay
for goods and services without ever having to share sensitive personal
and financial information or even have a bank account. The latter is
particularly significant in developing countries, where demand deposit
account (DDA) ownership rarely exceeds 50%," comments Tristan
Hugo-Webb, Associate Director for the International Advisory Service at
Mercator Advisory Group and the primary author of the report.
The report is 25 pages long and contains 8 exhibits.
Companies mentioned in this report include:Amazon, cashU, QIWI, Qoo10, and Ukash
Members of Mercator Advisory Group's International Advisory Service
have access to this report as well as the upcoming research for the
year ahead, presentations, analyst access and other membership benefits.