Forrestor reports low market need for P2P mobile payments

April 19, 2007
Person-To-Person Payment Goes Mobile
But P2P Mobile Payment Is A Technology In Search Of A Market
by Michelle de Lussanet
with Lizet Menke, Benjamin Ensor

This is a document excerptEXECUTIVE SUMMARY

A number of firms in Western Europe have recently launched payment systems that allow consumers to make person-to-person payments using their mobile phones. Executives at other payment system operators, mobile operators, and banks need not rush to follow suit. We are not convinced that there is a large market for these new systems: Currently P2P supports only well-defined, narrow payment scenarios like mobile airtime prepay top-up of another person's prepay account. Instead, P2P payments are likely to become just one feature within broader mobile banking and mobile payment services.