Consumers are looking for the trust of a
financial brand and familiarity of a mobile brand if they are to
adopt m-payments, according to a study by market research agency
GfK NOP.

The study shows 48% of consumers surveyed
indicated their preference and trust lies within the financial
brand category, with high-street banks coming out top. It is
claimed consumers feel they can be relied upon to safely process
payments and manage personal finances, and that they view
m-payments as a natural next step in their bank’s service
offerings.

Mobile and telecommunication brands scored
significantly lower levels of trust among GfK’s survey respondents.
Just 10% of consumers put their trust in this category with mobile
carriers cementing top place.

PayPal, Nokia and Apple all received strong
support among survey respondents at a brand level with PayPal
scoring the highest brand preference of all those tested.

While trust is believed to be the biggest
driver of m-payments adoption at a global level, PayPal’s success
in this research is down to the fact that consumers are familiar
with and have already used PayPal to send or receive remote
m-payments before. This is closely followed by a belief that the
payment method is a specialist in processing payments in a general
sense.

Nokia in China was also named as among the
most trusted brands across all categories in GfK’s research,
receiving a score of 38% – a significant increase on the 14% global
trust average.

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Apple raised its 11% trust score to 38% when
rated among its iPhone users.

“Creating a mobile payment service that
consumers are comfortable adopting means leveraging the trust
placed in financial brands but it is also vital to have a presence
in the mobile sector,” said Ryan Garner, director at GfK
Technology.

“By tapping into all of these strengths, a
mobile payments solution would quickly gain momentum with consumers
and put an end to the delays experienced by NFC-based services in
recent years.”

Globally, 62% of consumers find m-payments
appealing. Interest in the payment method is higher among certain
groups – 75% of consumers aged 16-24 registered enthusiasm for
m-payments compared to 74% among innovators/early adoptors and 72%
among current smartphone owners.

Not surprisingly, given the different levels
of maturity in m-payments around the world, interest varied across
the markets researched. Developing markets, such as China (82%) and
Brazil (73%) find m-payment services the most appealing yet the
ubiquitous nature of e-payments in developed economies, such as the
US and UK, limits the interest in m-payments to around 50%.

The survey included 8,603 online interviews,
which took place across the US, UK, France, Italy, Germany, Spain,
South Korea, Brazil and China