For a long time mobile payments have been predicted to have a promising future. However adoption rate by consumers and merchants alike is by far not at any desired level or even close to a breakthrough. In order for widespread adoption, mobile payments need to offer significantly more than just core payment functionality. Otherwise it’s definitely set to fail. Many of today’s initiatives have already made painful and costly experiences. And Softcard who was taken over by Google for much less than $100 millions (while its shareholder poured over $800 million into Softcard) will not remain the last in that row. This paper investigates the impact of various Value Added Services (VAS) on consumer adoption of Mobile Payments, based on a consumer survey among 310 Young European consumers in the age interval of 18-35, conducted in December 2014.
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Mobile Payment Study (deutsch)