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20/09/2011 -
There are a number of different parties involved in the mobile payments space, and more services seem to be popping up each day. What's unique about mobile payments is the variety of services, technologies and products throughout the channel: banks, credit card companies, mobile service carriers and technology firms.With that in mind, technology solutions firm Fiserv released a study this week analyzing the unique advantages of the finance industry within the ever-tightening mobile payments market. At the top of the list is consumer trust. Researchers point to studies showing how consumers trust in their own banks to handle their payment transactions.
A separate study by Ogilvy & Mather studied consumers' trust levels among a variety of companies and industries and found banks and financial services firms also topped the list, beating out tech giants such as Google and Apple.
"Banks and credit unions don't have to wait on the sidelines as non-traditional players move into the mobile payments market," said Erich Litch, division president of digital channels at Fiserv. "There is currently a window of opportunity during which financial institutions can introduce consumers to mobile payments."
