The Future of Mobile Payments: Continuation of Commerce during Global Economic Crisis
The modern financial world has evolved from a relatively resilient system to one that is highly interconnected and subject to cascading failures. For example, global banks have become increasingly interconnected, which means that a failure in one bank can have ramifications for many more. There are many potential triggers that could cause a domino effect including sovereign default, changes in international currency settlements regime, war, competitive currency debasement, and others.
This report evaluates the risk factors that may lead to a disruption in global commerce and the use of mobile payment systems to provide for continuity of commerce in such situations. Emphasis is placed on the need for independent back-office accounts, settlement and clearing mechanisms, and a flexible mobile wallet system. This report also provides a market overview and forecast for mobile payments.
- Social Commerce Vendors
- Mobile Network Operators
- Mobile Software Developers
- OSS/BSS Solution Providers
- Department of Homeland Security
- Handset and Tablet Manufacturers
- Mobile Payment Service Providers
- Content and Applications Aggregators
- Mobile Marketing and Advertising Providers
- Telecommunications Infrastructure Providers