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10/08/2011 -
It's inevitable: mobile payment technologies will come to dominate the retail and commerce markets. What remains uncertain is how monetary information will flow among the various mobile developers, operators and financial institutions involved in the transactions.PR firm Ogilvy & Mather recently set out to evaluate how much consumers trust various companies involved in the mobile payments industry. The results show most consumers are happy with the status quo.
While tech giants such as Google, Facebook and Apple are developing their own payment services for mobile devices, consumers seem to hold the most trust in the companies that have experience handling their money - Visa, MasterCard, American Express and PayPal.
"Allowed to pick any number of brands on a set list, survey respondents selected Facebook as the least-trusted brand, with only 12 percent expressing trust," reports Kunur Patel for AdAge. "The group was also more likely to trust the United States Postal Service with mobile payments than Apple, Microsoft or Google."
Still, the tech firms may need to lead the market from a developmental perspective, as the number of mobile payment users in the world is expected to surpass 141.1 million this year, according to Gartner.
