Several regions have seen a strong push toward contactless payments
services together with a strong rise in mobile data usage. Given its
growing user demand for advanced content, Japan is expected to continue
to lead the world in mobile data consumption. TowerGroup estimates that
mobile data services now account for about $15 of average revenue per
user per month and are growing at a 23% annual rate, thus presenting a
significant opportunity for mobile payments.
The appetite for mobile services will benefit both mobile operators and
the purveyors of advanced-content and payment services that leverage
these rapidly evolving consumer habits. The aggressive rise and
adoption of advanced mobile services that cater to an evolving mobile
lifestyle are challenging banks globally to play an active role. As
mobile carriers embed contactless payments in the chipsets of their new
generation phones and ISO 14443-based radio frequency standards take
hold, consumers will grow accustomed to the concept of paying “by cell”.
