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131 posts categorized "Consumer Finance"

April 7, 2014

The Consumer Shopping Experience of Tomorrow

The payments industry is in the midst of a generational change due the rise of different technologies, including mobile phones and tablets. Unlike plastic cards, mobile devices can put the payment transaction into context and, as result, enable companies to deliver a tailored experience to each consumer. It is this type of personalization that consumers of tomorrow will demand.

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March 29, 2014

Corporate Strategy in Consumer Finance

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The largest international card networks faced a variety of challenges in 2013 but have emerged well positioned for 2014. Many have made progress in developing online payment platforms that will utilise the potential for payments on mobile phones and increase the convenience of online payments. Regulation continues to be a leading concern for international networks, however several settlements in 2013 have lowered uncertainty in many areas.

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How the World Spent $100

how the world spent $100

Euromonitor International examines the impact of the various payment instruments, card types and operators in the 2012 global payment landscape.

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March 28, 2014

Positive Regulation Driving Mobile Payments in Brazil

Kendrick SandsAnalyst Insight by Kendrick Sands - Consumer Finance Analyst

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In late 2013 the Brazilian government established regulations directed at clarifying expectations for the emerging mobile payment market. By creating a clear set of standards for the mobile payment players, the Central Bank has increased the likelihood of greater adoption and access to mobile financial services for all consumers. This positive regulatory development is one component of why Euromonitor International expects mobile commerce to triple in Brazil over the next five years. The leading telecommunication companies have entered into ventures with the leading Brazilian issuers, merchant acquirers, and card payment networks to launch pilot projects throughout the country. The regulation named the Central Bank responsible for oversight of mobile commerce, created a new classification mobile money companies termed ‘payment institutions’ which will have fewer capital restrictions but similar protections to traditional financial institutions, and stated the long-term goal of interoperability between all competing platforms. Perhaps most importantly, the rules have been set for those involved in mobile money which reduces the uncertainty and to some degree protects investment in the space. Creating a friendlier regulatory environment for mobile money services should eventually translate to a viable financial service option for the 62 million Brazilian consumers over fifteen years old that aren’t banked but are likely to have a mobile device.

Brazil Banked Population, Household Possession of a Mobile Phone, and M-Commerce Value 2009-13

 

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February 28, 2014

Euromonitor to Speak at CAGE - Consumer Analyst Group Europe

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Event Name: CAGE - Consumer Analyst Group Europe

Date: 17th-19th March 2014

Location: London, UK

Event Description:  The Consumer Analyst Group of Europe (CAGE) Conference is the only independent European forum where you can mingle with the investment community and listen to over 40 CEOs, CFOs and other top managers from 27 global consumer and consumer-related companies, including Coca-Cola, Danone, Diageo, L’Oréal, Nestlé, Kraft Foods, SABMiller and Euromonitor International, representing a combined market value of £600 (€700) billion. Register online here to join us at the London Hilton Metropole from Monday 17th to Wednesday 19th March 2014.

 

Speaker: Ewa Hudson, Global Head of Health & Wellness Research

Presentation Date and Time: 17th March, 12:30-1pm

Presentation Title: Soft Drinks and the Health Question: The Winners and Losers

 

For more information, please visit https://www.cag.eu.com/

February 25, 2014

Leveraging Consumer Loyalty to Drive Mobile Payments

Leveraging Consumer Loyalty to Drive Mobile Payments Adoption White Paper Cover Image White Paper by Michelle Evans - Senior Consumer Finance Analyst

Mobile wallets have struggled in the marketplace due to privacy and security concerns, uninformed consumers, a lack of required infrastructure to execute payments and the convenience of existing payment methods.  Mobile payments remain a niche form of payment with consumers generally relying on mobile phones to do other things in store, such as comparing prices or reading product reviews.

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However, the mobile landscape has rapidly changed in recent years to the point that m-payments are not just for early adopters of technology. Euromonitor estimates 80% of all mobile phones sold in the US and 59% of those sold globally will be smartphones in 2014. This development means it is more feasible for merchants of all types to launch successful m-payments platforms. 

Smartphones enable consumers to receive geo-location discounts, coupons, faster transactions, emailed receipts and loyalty programmes. If businesses focus on these integrated loyalty offerings or more robust loyalty platforms, they will see an increased number of consumers adopting mobile payments as a way to pay for in-store purchases.  

According to Evans, “Mobile payments must be as cheap, safe and easy to use as traditional payment methods to even be considered a viable option. Merely making mobile payment infrastructure ubiquitous likely won’t be enough to entice a broad consumer base. In order to encourage wider adoption, mobile payment players will have to provide additional value, which will likely be derived from an integrated loyalty platform.”

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February 7, 2014

Euromonitor Speaking at Card Forum and Expo 2014

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Event Name: Card Forum and Expo 2014

Event Dates: April 22-25, 2014

Event Location: Orlando, Florida

Presentation Date and Time: Thursday, April 24 at 2:50 p.m. - 3:35 p.m.

Track: The Mobile Wallet 

Speaker: Michelle EvansMichelle Evans Consumer Finance Analyst, Euromonitor International

View Michelle Evans's profile on LinkedIn

Presentation Topic: How Loyalty Could Spur Mobile Payments Adoption

In order to encourage wider adoption and ensure high usage, mobile payment players will have to provide a value add, which could come in many forms, including monetary savings, improved security, ease of use or increased loyalty. Of all these potential benefits, mobile-driven loyalty could be the greatest factor with the potential to drive consumer adoption of mobile payments. Although still very much in the early days, the integration of mobile wallets with value-added services has become almost a prerequisite for the success of any mobile payment app. Loyalty has been shown to be an important factor in driving consumer payment choice in the past when it comes to card payments and will be just as an important in the mobile revolution.

For more information, please visit www.CardForumAndExpo.com
Use code EUROMONITOR to receive a $200 discount off current admission rates.

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February 6, 2014

Five Payment Predictions for 2014

Michelle EvansAnalyst Insight by Michelle Evans - Senior Consumer Finance Analyst

View Michelle Evans's profile on LinkedIn

Prediction 1: The Convergence of Loyalty with Mobile Payments

Mobile wallets have failed to take off in the marketplace due to a combination of factors, including consumer fears around privacy and security, an uninformed consumer base, an absence of the needed infrastructure and the convenience of already established payment methods. In order to encourage wider adoption and ensure high usage, mobile payment players will have to provide a value add, which could come in many forms, including monetary savings, improved security, ease of use or increased loyalty. Of all these potential benefits, mobile-driven loyalty may be the greatest factor with the potential to drive consumer adoption of mobile payments. 

Although still very much in the early days, the integration of mobile wallets with value-added services has become almost a prerequisite for the success of any mobile payment app. One of the more successful mobile wallets to date comes from the coffeehouse giant, Starbucks Corp., which integrates its popular rewards program with its prefunded QR-code based mobile app. Another real-world example of a loyalty-led mobile payment app is the telecom-led mobile platform Isis. Although still in the early days of nationwide deployment in the US, early results have shown greater adoption for those that signed up for the attached loyalty programmes. The future consumer adoption of mobile payments will be directly related to the type value add that consumers receive from using their mobile phone. It is likely that the payments industry will see more of these loyalty-driven mobile apps in the near future. In fact, it is likely that over the course of the next year that no conversation around mobile payments will be complete without a mention of the role of loyalty.

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January 3, 2014

China’s M-Commerce Market to Triple by 2018

Michelle EvansAnalyst Insight by Michelle Evans - Consumer Finance Analyst

View Michelle Evans's profile on LinkedIn

China is expected to become the second largest market for mobile commerce — just behind the US — as of 2018, more than tripling the size of its m-commerce market in just five years. The Asian country continues to record historic landmarks in mobile communications, with the country already home to the largest number of mobile subscribers and smartphone users worldwide. In addition, China has a well-developed digital payments market and a strong usage of financial cards that will likely lay the groundwork for the rapid expansion of China’s mobile payments market in the coming years.

Booming E-Commerce Market is Translating to Mobile Commerce

The rising popularity of the internet across China has not only changed the way that consumers shop, but it also has driven both e-commerce and mobile commerce purchase volume. The country has a well-developed digital payments market with many of the country’s internet users already utilizing digital wallets, online banking and even mobile payments. Of all internet users in China, 79% surfed the internet with their mobile phones, according to the latest report by the China Internet Network Information Centre (CNNIC). Alipay, a local online payment system similar to PayPal, reported having 500 million registered users in early 2013. Alipay’s parent, Alibaba, also has been investing millions in the shift from e-commerce to m-commerce, including even offering online retailers smartphones in exchange for purchasing a mobile-service package.

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November 21, 2013

Unintended Consequences of Mobile Payment

Jonathan FisherAnalyst Insight by Jonathan Fisher - Head of Consumer Finance

View Jonathan Fisher's profile on LinkedIn

In the payment industry, we are constantly inundated by commentary on the promise of the mobile phone.  While mobile payment certainly offers great potential, at this point, these words seem to travel faster and further than actual penetration and usage.  Yes, mobile presents an enhanced payment plus experience for the user.  But, it may also leave a host of unintended consequences in its wake.  Many in the industry may not find these unintended consequences meaningful or worthy of strategy shifts.  However, I find value in exploring one of these consequences — the negative impact on brand.

By brand, I am referring to a specific case of erosion that may result due to the shift from holding a plastic card in one’s hand to interacting with a mobile app.  No company would feel the dip in this area more than American Express.  For years, American Express maintained a unique position in terms of what it meant to occupy one’s wallet.  When an individual became a Card Member, the card certified that they made it or so they may have thought.  Possession of that oblong piece of plastic created for some Card Members an intangible benefit.  Of course, this may say more about the Card Member than the card, but the endorsement contained value.  The card was a palpable symbol that the Card Member had attained a certain status.

Continue reading "Unintended Consequences of Mobile Payment" »

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Recent Posts

The Consumer Shopping Experience of Tomorrow

Corporate Strategy in Consumer Finance

How the World Spent $100

Positive Regulation Driving Mobile Payments in Brazil

Euromonitor to Speak at CAGE - Consumer Analyst Group Europe

Leveraging Consumer Loyalty to Drive Mobile Payments

Euromonitor Speaking at Card Forum and Expo 2014

Five Payment Predictions for 2014

China’s M-Commerce Market to Triple by 2018

Unintended Consequences of Mobile Payment