Don't be late to the party: Mobile payments matter, says KPMG

KPMG recently revealed the results of its extensive 2011 Mobile Payments Outlook and they show a promising future for the emerging technology.

In the report's executive summary, 6 trends or statements are highlighted.

1. Mobile payments will matter. 58% of companies have a mobile payments strategy in place today and half of those are already offering a mobile payments service.

2. Mobile payments are preparing to go mainstream. 1 in 5 respondents say that mobile payments are very important today. 54% believe that mobile payments will be important in 2 to 4 years.

3. Mobile payments will take multiple forms. From the wallet and m-banking to contactless card systems and online payment systems, there are many exciting payment opportunities.

4. Convenience and availability will drive success. Respondents agreed that these two factors are the key advantages.

5. Security is the prime impediment. Security is critical where customers’ money is at stake.

6. The mobile payments ecosystem will be rich and dynamic. Irrespective of which industry the respondent’s business is in, they believe that many other industries will play an important role. While companies deem technology companies and retailers less influential, new business models driven by these sectors are changing the game at a fast pace.

If you want to delve deeper into mobile payments, check out KPMG's full report here, filled with valuable statistics and information.