Abstract
This Financial Insights report looks at the development of mobile payments in
the United States and Europe, which is being hindered by battles between mobile
telecommunications carriers, financial institutions, device manufacturers, and
software vendors over "who owns the customer."
Mobile payments have generated a great deal of discussion for the past few
years, but according to Dana Gould, senior research analyst at Financial
Insights, "the United States is far from implementing a mobile payments system.
The market is in turmoil, standards are lacking, and lack of cooperation among
the stakeholders is preventing significant progress from being made. Time may
be running out for financial institutions to realize the implementation of such
a system in the near future."
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