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dc.contributor.authorCrowe, Marianneen_US
dc.contributor.authorRysman, Marcen_US
dc.contributor.authorStavins, Joannaen_US
dc.date.accessioned2010-10-01en_US
dc.date.accessioned2012-06-20T16:08:47Z-
dc.date.available2012-06-20T16:08:47Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/59201-
dc.description.abstractAlthough mobile payments are increasingly used in some countries, they have not been adopted widely in the United States so far, despite their potential to add value for consumers and streamline the payments system. After describing a few countries' experiences, we analyze the prospects for the U.S. market for mobile payments in retail payments, particularly the use of contactless and near-field communication technologies. We identify conditions that have facilitated some success in other countries and barriers to the adoption of mobile payments in the United States. On the demand side, consumers and merchants are well served by the current card system, and face a low expected benefit-cost ratio, at least in the short run. On the supply side, low market concentration and strong competitive forces of banks and mobile carriers make coordination of standards difficult. Furthermore, mobile payments are characterized by a network effects problem: consumers will not demand them until they know that enough merchants accept them, and merchants will not implement the technology until a critical mass of consumers justifies the cost of doing so. We present some policy recommendations that the Federal Reserve should consider.en_US
dc.language.isoengen_US
dc.publisherFederal Reserve Bank of Boston Boston, MAen_US
dc.relation.ispartofseriesPublic policy Discussion Papers, Federal Reserve Bank of Boston 10,2en_US
dc.subject.jelG21en_US
dc.subject.jelL15en_US
dc.subject.jelO33en_US
dc.subject.ddc330en_US
dc.subject.stwBargeldloser Zahlungsverkehren_US
dc.subject.stwMobiltelefonen_US
dc.subject.stwFacheinzelhandelen_US
dc.subject.stwUSAen_US
dc.titleMobile payments in the United States at retail point of sale: Current market and future prospectsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn635923211en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Public Policy Discussion Papers, Federal Reserve Bank of Boston

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