Mobile Person-to-Person Payments and Transfers: Security and Timing Are Everything

Mobile person-to-person payments and transfers (mobile P2P) offer the first income-generating step for financial institutions on the pathway to full mobile banking and payments. While still a niche product, demand is growing and one out of ten consumers currently states that he or she would likely use mobile P2P if the service were available. This report is based on an online survey of 2192 consumers, a survey of 26 executives from the financial industry, and ten interviews of executives in the payments industry.

• What are the main barriers preventing mobile P2P transfers services from being adopted?
• How can those barriers be addressed so that mobile P2P transfer services contribute significantly to revenue?
• What are the key marketing strategies of mobile P2P and which consumer segments are the most profitable targets?
• Which aspects of mobile P2P appeal to each segment?
• Which features attract the unbanked and underbanked and how are these groups responding to mobile P2P money transfers?
• What mobile P2P transfe

Financial institutions: Online banking, mobile banking, marketing, mobile banking platform providers, credit card networks, mobile payment vendors, mobile network operators, and new entrants.

• Amazon Payments (TextPayMe)
• Bank of America
• Citigroup
• ClairMail
• Corporation Bank
• Diner' s Club International
• eBay
• Firethorn
• First Premier Bank
• HDFC Bank
• ICIC Bank
• Idology
• ING Direct
• MasterCard
• mChek
• mFoundry
• Mpayy
• m-Via
• Obopay
• PayPal
• Secure Wireless Transfers Corp. (KushCash)
• STAR Networks
• Visa