Study: Banks Slow to Act in Growing Mobile Payments Space

Nearly half of financial services, retail, technology and telecommunications executives believe mobile payments will be mainstream within two years, according to a new report from KPMG.

Companies are looking to opportunities in mobile payments as the adoption of smartphones and consumer interest in mobile payments is growing, according to the Global Mobile Payments report. While 83 percent of executives surveyed by KPMG feel mobile payments will be mainstream in four years, 46 percent feel mass adoption will only take two years.