Javelin Strategy & Research Ranks Largest Contenders: Apple, Google, Facebook, Amazon and eBay's PayPal
San Francisco, CA, October 23, 2013 The stakes are high for the adoption of mobile wallets with an existing U.S. market of over $4 trillion up for grabs. Yet no single company has been able to crack the code for mobile wallets. Javelin Strategy & Research's annual 2013 Gang of Five report analyzes the current strategies of the existing contenders, Apple, Google, Amazon, Facebook, and eBay's PayPal, versus those of the major payment networks, largest financial institutions, and top mobile network operators. The report details which players are winning and losing and what needs to happen to gain consumer mobile wallet adoption.
Each member of the Gang of Five is working mightily to remain in position by providing apps, games, products, books and movies to retain eyeballs. Javelin's TIP (Trust-Innovation-Privacy) Model analyzes the competitive space of mobile wallets from the consumer perspective. Over the past year, PayPal moved up into the top spot as the most trusted brand surveyed and the firm with the highest ratings for privacy protection. With one in five consumers ready to adopt a mobile wallet in the next year, PayPal is in a great position to lead in mobile wallet adoption.
"Mobile wallets threaten existing providers as they can disrupt the relationship between customers and their primary banks at the point of sale," said Mary Monahan, Director of Mobile at Javelin Strategy & Research. "Issuers and merchants can be cut out of the transaction details and revenue as customer relationships are weakened through the introduction of new mobile platforms. A case in point is PayPal's history of steering customers to less expensive ACH routing that is less favorable to issuers."
Javelin Strategy & Research's 2013 Gang of Five: Apple, Google, Amazon, Facebook and PayPal-eBay: Threat of the Mobile Wallet Disruptors reports consumer sentiment for mobile wallet providers according to trust, innovation and privacy protection, as well as the current mobile wallet market as it pertains to the Gang of Five (Apple, Google, Facebook, Amazon and PayPal (eBay). It is based on two online surveys of more than 10,000 consumers and executive interviews conducted among major competitors in the payment and wallet industry.
Learn More: 2013 Gang of Five: Apple, Google, Amazon, Facebook and PayPal eBay: Threat of the Mobile Wallet Disruptors
Related Javelin Research
- Mobile Wallet Game Changers: A Glimpse Into 2014's Projected Winners and Losers
- Mobile POS Business and Market Impact 2013: Emerging Technologies Expand Reach With Lower?Cost, Disruptive Services
About Javelin Strategy & Research
Javelin Strategy & Research, a division of Greenwich Associates, provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies, merchants and other technology providers. Javelin's independent insights result from a uniquely rigorous three-dimensional research process that assesses customers, providers, and the transactions ecosystem.
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