In Europe, 2014 Will be the Year for Mobile Payment Initiatives!
Feb 14, 2014
Every week, a new product or project is revealed by major players from the telecommunication or the payment industry. This week, it is the turn of a French multinational telecommunications corporation to announce the deployment of a contactless payment service, named Orange Cash. There is no disruptive technology or innovative approach involved. But behind this new offer, Orange affirms its presence in this promising market by using its recognized brand and powerful network. Indeed, the company can leverage its infrastructure to promote the mobile wallet solution based on NFC technology.
Traditional revenues from communication and smartphone subscriptions are decreasing. For Orange, this is the time to expand its footprint in other strategic directions – such as mobile payment – in order to generate future revenue opportunities. In Europe, many similar initiatives have appeared, but at the moment, the market is extremely fragmented. Today, the plethora of mobile payment services available is confusing consumers; mass market adoption will probably not be visible until 2015 in Europe. But market participants are formulating their strategies, and will be ready to gain market share.
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