On 26 June 2014, the European Payments Council () published the document ‘ Overview on Mobile Payments Initiatives’ (see ‘related files’ below).
Mobile phones have achieved full market penetration and rich service levels, making them an ideal channel for payment instruments. At the same time, the mobile payments ecosystem continues to grow and mature rapidly. For stakeholders in the payments industry, it is important to have a good insight into the latest trends within mobile payments and market developments. Therefore the has decided to provide an overview on the new initiatives on mobile payments in the Single Euro Payments Area () and beyond, which is reflected in the newly published ‘Overview of Mobile Payment Initiatives’.
This document describes various existing and new initiatives on mobile payments and aims to create awareness on the latest developments, based on the following sources:
- Contributions by members on community initiatives.
- Initiatives reported in various newsfeeds.
It contains sections highlighting underlying payment instruments, mobile wallet initiatives, and developments on mobile points of sale (mPOS), all of which have newly appeared on the market over the past year.
This first version of the report includes initiatives launched over the last seven months (November 2013 through May 2014) within and outside.
The collection of the initiatives is done on a best-effort basis and is not exhaustive. The inclusion of any initiative into the document does not imply that in any form endorses, supports, or recommends such initiative.
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