2007 Mobile Financial Services Study

Edgar, Dunn & Company and Mobile Payments World have released their 2007 Mobile Financial Services Study which investigates mobile banking and mobile payments. The study is based on a survey of approximately 500 "thought leaders in mobile payments and financial services from around the world" (which means subscribers to the sponsors' publications).

When asked "which participants in the Mobile Payments value chain will be the most critical to the achievement of critical mass?" 70% of respondents said "merchants" and 65% said "consumers" with smaller numbers citing mobile carriers, financial institutions and handset manufacturers.

Respondents felt there was currently no "killer app" in mobile payments, but thought that transportation, micropayments and mobile wallets had the potential to achieve that status.

In terms of time frame, 60% felt mobile payment adoption would be "gradual" while 40% thought it would be "rapid."