The scope of the 2007 survey was broadened this year to gather input from hundreds of top mobile technology and financial services professionals on the success outlook and forecast in mobile payments, mobile banking and mobile financial services including those in the unbanked and underbanked market segments.

The results include in-depth market analysis and insight into the key factors that will accelerate mobile payments, banking and financial services including which value chain constituents are most critical, the most significant barriers to success and the probable timelines.

“Our study reveals a collective vision on how mobile banking, payments and financial services will progress toward critical mass, with data illuminating the key market challenges and opportunities,” said Samee Zafar, director at Edgar, Dunn & Company.

The survey showed that industry professionals are generally more optimistic this year about the future for mobile payments, with 29% believing that it could happen within 2-5 years, representing an increase of 12% from the 2006 survey. Seventy percent of respondents believe merchant adoption will drive acceptance, closely followed by 65% who view consumer adoption as key to achieving critical mass, revealing the classic “chicken and egg” problem.

In assessing the potential for mobile banking, respondents identified balance inquiries, bill payment and financial services alerts, closely followed by P2P transfers, as the services which will contribute most to the growth in this area.  Somewhat surprisingly, cross-border remittances were deemed likely to have a less significant impact on mobile banking growth.

In the untapped yet potentially large market of unbanked and underbanked consumers, respondents saw P2P transfers as the mobile financial service most likely to appeal to this segment, closely followed by bill payment. Consumer education was viewed as key to the success of mobile financial services for these segments that typically has little familiarity with banking services.

This year’s study respondents further predicted that mobile payments and mobile banking will grow faster in Asia Pacific than in other regions.

About The 2007 Mobile Financial Services Survey
The study was implemented in the fall of 2006 via an online survey questionnaire to global thought leaders in mobile payments and financial services on the success outlook and forecast in mobile payments, mobile banking and mobile financial services including those for the unbanked and under banked market segments.
The over 489 respondents represent a 10% response rate and a 40% increase from the number of respondents that participated in the 2006 Survey.  The Survey’s regional representation was 48% from the Americas, 38% from EMEA, and 14% from Asia Pacific. The study’s executive summary is available at www.edgardunn.com or www.mobilepaymentsworld.com For a more detailed presentation of the survey results, please contact Ginger Schmeltzer at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it