PayPal is top brand for mobile payments: survey
PayPal, the eBay-owned online payment system, could be set for a major boost as mobile payment systems start to take off over the next year, a survey by market research firm GfK suggests. GfK found that PayPal was the brand most likely to be trusted with personal financial data by consumers in nine major markets around the world, in a survey whose results are due to be published later on Thursday. Credit-card brands Visa and MasterCard were the next most likely global brands to be trusted, followed by Apple -- which already handles account data through the iTunes store --, Nokia and Samsung. Mobile operators, who have been hoping to diversify their increasingly commoditised revenues through NFC, came far down the list. "When we think of trust or security, we probably default to a brand that's been around for a long time. In this case, people have put their trust in a very new company," GfK analyst and report author Ryan Garner told Reuters. "Whilst financial brands have built up high levels of trust, mobile-based brands such as Nokia and Apple, and relatively new financial brands like PayPal, have the potential to disrupt this seemingly comfortable position," GfK said. Paying for small items like newspapers or a coffee by touching a mobile phone against an NFC (near field communications) reader has been technologically possible for many years. But a reluctance to invest in the necessary infrastructure has prevented a market from developing in mature economies as banks, telcos, phone makers and software makers have tussled over ownership of the customer.
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