A survey of 201 retail, banking and processor professionals released by payment systems provider ACI Worldwide has revealed that just over a third (35%) believe mobile banking is the payment solution most likely to be adopted in the US over the next year.

Mobile payments were also regarded as highly likely to be adopted in the US by 27% of respondents. However, only one in ten believe that mobile wallets will become widely adopted over the next two years despite their significant market coverage and awareness.

Senior vice president of Online and Mobile at ACI Worldwide, Matt Ellis, said: "So much time and attention have been paid to the rise of the mobile wallet."

"But our findings show that banks and retailers alike may not be willing to relinquish control to third-party providers just yet. Our survey is a clear affirmation that as mobile continues to evolve, you’re going to see bank and retail brands work hard to maintain ownership of their mobile channels," he concluded.

14% believe EMV cards will be most widely adopted, whereas 13% chose online and mobile bill pay services.

Over the next six to twelve months, the adoption of mobile banking is believed to be the trend that will have the biggest impact on the banking and retail industries by 19% of respondents.

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Fraud (35%) is considered to be the biggest obstacle for banks and retailers planning to execute mobile solutions.

Lack of integration with system software (27%) and the implementation of hardware infrastructure (15%) were also thought to be hindrances.

40% of respondents feel fraud poses the biggest risk to their organisation at the moment, however only 5% are concerned with anti money laundering.

"Fraud continues to be a leading concern for all payment professionals," said senior vice president of Payments Fraud Management Solutions at ACI Worldwide Mike Braatz.

"As an industry, we must be vigilant and resolute in staying one step ahead of fraudsters, which admittedly can be challenging as new technology is constantly introduced. But, with the right plan and strong partners, retailers, banks and processors can ensure the continued protection of their customers and their data."

Nearly half of all respondents (49%) believe the US migration to EMV will see consumers favour mobile payments over card based transactions.

One of the main challenges to EMV implementation is thought to be the process of rolling out hardware updates such as point of sale terminals and ATMs (32%).

26% of respondents believe the education and training of business constituents and driving consumer awareness and adoption will be difficult, whereas 24% are most concerned with meeting compliance deadlines.

The cost of implementation (36%) is considered the biggest obstacle to meeting customer demands around innovation, with regulatory concerns not far behind (27%).

This survey was conducted at the 2013 ACI Americas Exchange conference in June.

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