The enthusiasm of retailers, as well as the integration of mobile phone capabilities into the e-commerce experience, are the two factors that do most for mobile payment take-up, according to Gigaom Research

The research firm ranked five factors by their ability to create positive change in favour of mobile payments in terms of lower fees, less transaction friction and greater convenience.

Interestingly, absent from the list was security and compliance. The need for users to feel secure when making mobile payments is usually seen as key to take-up but the study argued while users consider security important they are willing to take risks in return for convenience and functionality.

A key factor is the backing of mobile initiatives by retailers and other companies affected by mobile payments, said the study. This will unify user experience across a number of channels: Mobile, online and physical stores, it said. In the past, retailers have had a tendency to take a web-first approach and outsource mobile apps to contractors and agencies who then retrofitted their website with a mobile-friendly design.

The study also argued that integrating unique mobile phone capabilities into e-commerce will encourage adoption by consumers. One example is the deployment of Bluetooth low energy (BLE) in physical stores which target users’ smartphones with coupons and offers.

It is too early to say these deployments are popular with users but certainly they appear to be supported by the retail sector.

Gigaom gives greatest weight (25 per cent each) to retail support and technical integration but also mentions three others factors: the potential migration of payments from the web to social media channels such as Twitter and Facebook (20 per cent), the contraction of content to fit mobile devices (15 per cent) and disintermediation of traditional payment institutions and methods (15 per cent).