The chatter around mobile payments has almost exclusively been related to the dynamic growth potential in consumer transactions. In previous research reports, Mercator Advisory Group has discussed how the mobile communications revolution continues to advance mobile device functionality but has yet to include use of the ubiquitous devices as the primary vessels for making purchases either at the point of sale or remotely. In a new research report, Mobile Usage in Commercial Payments May Be Just Around the Corner, Mercator Advisory Group broadens the discussion to include the various channels in commercial payments where the use of mobile devices and capabilities will have an impact as we move toward 2020 and beyond.
The new research report, breaks out and defines these channels, incorporating Mercator Advisory Group’s views as to the factors driving growth, and then providing a forecast of mobile spend through the relevant channels up to 2024.
"Many of us know from personal experience about the difficulty of finding consistent mobile payment point-of-sale (POS) capabilities in our normal daily shopping and spending routines, not to mention the different experiences and general ongoing confusion with regard to EMV. But all this is gradually improving, and in light of a clear generational preference for mobile by Millennials and Gen Z, along with increasing solutions from card issuers, we see a tipping point coming,” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service, author of the report. “Also, let’s not forget the impact of expanding business-to-business marketplace solutions, which will help drive remote mobile spending through a natural transition in the office place over time.”
The document is 16 pages long and contains 4 exhibits.
Companies mentioned in this research report include: Alibaba, Amazon, American Express, Apple, Axletree, Basware, Bloomberg, Citi, Coupa, FIS, First Data, Ingenico, JP Morgan Chase, Kyriba, Misys, PAX, Reval, Square, TSYS, US Bank, Verifone, and Wells Fargo.