MPOS in Asia: The Move from Niche to Mainstream Has Begun

Tim Dillon
Tim Dillon
Summary Bullets:

  • Mobile payments have failed thus far to reach their full potential as a transaction option for consumers – principally due to fragmentation in payment options and a lack of strong trusted service managers (TSMs) to broker services delivery between all parties.
  • Mobile penetration in Asia has continued to grow dramatically, and recent intra-region payment initiatives, specifically via China Mobile, Korea Telecom and NTT DoCoMo, should accelerate adoption of mobile payments and create a MPOS market of approximately $500 billion (USD) by 2017 across Asia-Pacific.

Along with its cousin, NFC, mobile payment solutions have been the long-promised answer to an issue without a question.  The technology has been available for quite some time and those of us that are of a more mature (ahem, read old) generation fondly recollect the early mobile payment solutions of the late 1990s.  Adoption, however, has been slow, and for many consumers, there is uncertainty as to why mobile payment solutions are necessary. Continue reading “MPOS in Asia: The Move from Niche to Mainstream Has Begun”