Opacity In Emerging Payments
Although the report expected mobile payments to grow significantly, it also noted that industry estimates of mobile payments volumes vary widely. This is because there is a significant need for better and more reliable data as new players and regions join the market, it said. Analyzing the difference in mobile payments volumes estimates across the industry, the report found a volume gap of more than 50%, raising doubts about the size of market estimates.
"Key institutions have to work together in developing a new way to ensure that these transactions are captured," Lassignardie urges. "The mobile payments market is big enough that we have to collect this information and make sure it's accurate."
Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio