Mobile commerce is a topic that everyone has some interest in. Not just in the U.S., but all over the world. Even in developing countries; they know about mobile commerce and mobile payments. Research Company GfK performed a survey in nine countries, of over eight thousand adults to see what people really thought about mobile commerce.
More than 60 percent of the adults surveyed in the U.S., UK, Germany, Italy, Spain, South Korea, China, France and Brazil, replied positively about the idea of making mobile payments. The younger age group, of 16 to 24 year olds increased the percentage to 75 percent in favor of mobile payments.
In China more than 80 percent of the adults questioned were excited about the prospect of mobile payments. In Brazil that number was 73 percent. However, when adults in the U.S. and Europe were questioned about making mobile payments, only 50 percent responded positively.
In the area of trust; adults were asked what companies they would be more likely to trust to make mobile payments to. Almost 50 percent responded with more well known names from the financial sector. Telecom companies and mobile companies did not fare so well; only 10 percent of respondents chose them.
Name brand products that scored the most votes for confidence, expertise and familiarity were PayPal at 30 percent for familiarity; Nokia with a trust rating globally of 14 percent (Nokia scored 38 percent trust rate in China) and Apple scored 11 percent in trust; iPhone owners scored Apple with 38 percent trust.
This shows that to create a successful mobile payment system, it would be best to use a financial brand that rates high in consumer trust and loyalty. Additionally, the brand needs to have a key place in the mobile industry. If all of these essential components could come together, it is most likely that a mobile payment system would gain favor among the consumers much faster.
