Dynamics in Mobile Payment Market

The global mobile payments market is predicted to grow threefold by 2017 to some $721 billion worth of transactions, with more than 450 million users. (Gartner) In the promising market, there are six major parties involved. 

Here are some recent examples of their movements:

1) Financial institutions: Bank of China announced to partner with Xaomi Tech. (Chinese growing mobile phone maker)

2) Retailers: British supermarket Tesco and France's Auchan hope their "digital wallets" apps which allow consumers to pay with their smartphones rather than cash or cards.

3) Wireless: Carrier billing offers a way for consumers to pay for digital content like apps and tokens within apps.

4) Traditional payment services: MasterCard acquired digital wallet C-SAM.

5) Mobile payment services: Paypal for iOS reportedly will be among the first to integrate Apple's Touch ID API.

6) Device makers: Apple CEO Tim Cook announced its interest in mobile payment by saying “The mobile payments area in general is one that we’ve been intrigued with, and that was one of the thoughts behind Touch ID.”

None of these parties would easily give up acquiring more shares in this mobile payment market. On top of the fees expected from the transaction itself, surely the party that controls the consumer payment will get more comprehensive data about customers' shopping behavior than its competitors, so they can target advertising with better accuracy.

Sources)http://www.wired.com/2014/06/even-credit-card-companies-think-plastics-days-are-numbered/http://www.businessinsider.com/wireless-carriers-could-become-a-major-force-in-mobile-payments-2014-4#ixzz33zDUMffJhttp://www.forbes.com/sites/brucerogers/2014/03/18/who-is-leading-the-digital-mobile-payment-influence-battle/http://www.forbes.com/sites/stevenbertoni/2014/02/12/can-paypal-beat-apple-google-amazon-and-icahn-in-the-wallet-wars/http://www.reuters.com/article/2014/04/06/us-retail-mobilepayment-idUSBREA3503X20140406http://mashable.com/2014/06/03/apple-mobile-payments-wwdc/