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The client is an international tech company who also designs and manufactures chip makers and integrators for payment solutions. The Asian countries account for their biggest market.
The research aims at providing the client with fieldwork capabilities in China.
The client’s market size is strongly impacted by the number of bank cards that are issued every year in China. Therefore, the client is looking to better understand the mobile payment trend as well as the usage and attitude of Chinese consumers towards bank cards.
The research was divided into two phases.
The aim of this phase was to collect information about mobile payment development in China to support the consumer research of phase two.
This phase included four main research tools
The aim of this phase is to collect data regarding Chinese consumers’ perception of the mobile payment method to further quantify the trend.
Using the knowledge gathered in phase one, we conducted an online survey, asking a variety of questions about consumers’ payment methods and preferences, expectations, the impact of potential innovations, barriers and limitations, perceptions of costs of mobile payment methods, and future usage etc.
We then analyzed and synthesized the collected data and transformed it into meaningful insights.
We delivered a report outlining our data findings including relevant interpretations.
As part of our analysis, we focused on the potential development of mobile payment, consumers’ future bank card ownership and usage as well as potential market acceptance of future disruptions in the market. Finally, by drawing comparisons between potential evolutions of the bank card market and the mobile payment market in the next few years, we delivered strategy recommendations to the client.
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