Fiserv Inc,. a technology solutions provider to financial services companies, announced the results of a recent survey on mobile banking strategies at U.S financial institutions. The study found that most of the organizations surveyed had clear-cut strategies for mobile banking, but were less enthusiastic about mobile payments, at least until the market matures.

"In 2011, bill payment and transfers via mobile devices will undoubtedly increase as availability and utilization of mobile services grows," wrote Brad Strothkamp, principal analyst, eBusiness and Channel Strategy, Forrest Research Inc. "Contactless payments will not have the same success ... These types of mobile payments have major impediments to success, including technology, merchant, consumer and issuer issues."

The study, conducted for Fiserv by Forrester Consulting in October 2010, surveyed 15 decision makers from top U.S. banks and credit unions.

While taking a "wait-and-see" approach toward mobile payments, waiting for solid business cases to drive future investments, the report said that financial institutions are watching the market closely. The report said that certain factors, such as more defined technology and process standards, increasing competitive pressure and the emergence of a clear value proposition, would prompt the financial institutions to move more quickly in supporting mobile payments.

According to Erich Litch, division president, Digital Channels, Fiserv, that may mean opportunities for other players in the mobile payments space.

"Waiting for all the pieces to fall into place before starting to think about mobile payments will leave the door open for third parties to take business away from financial institutions," Litch said. "Taking the time to map out a strategy will ensure that decisions and infrastructures being put in place today will facilitate support a broad range of mobile payments in the near future."

Several respondents to the survey said they recognize the potential of mobile payments and have begun to map out strategies even without a strong business case. The respondents said the impact mobile payments would have across all lines of business, such as customer retention and profitability, cost reduction and increased customer engagement, figured into their evaluation of mobile payments.

The full report, entitled "Acceleration in the Mobile Banking and Payments Landscape: Insights and Perspectives from Financial Institutions," is available through Fiserv's website.