It’s good news and bad news for the mobile payments market, depending on what perspective you’re looking at the market from.

A new report from ARC, which is Applause’s research arm, reveals that the mobile payments market is generally well-received in its current form.

The ARC study found that consumers, for the most part, liked most of the mobile payment apps currently available, though expectations of what mobile payments apps could do was on the rise. Similar expectation hikes were seen for mobile banking apps as well.

Right now, Chase leads the way in mobile banking and mobile payments alike, with Citi and Capital One making gains as well. Looking at the United States’ listings, for example, found that most were willing to consider their current app at least “fair” on a four-point scale of “poor” to “excellent.”

Over half of the apps considered were at least regarded as “good”, and none actually slipped into the “poor” threshold. Interestingly, Venmo actually outranked PayPal itself, but not by a particularly wide margin. Both held the 11th and 12th slots, respectively.

Those wondering how Apple Pay did, meanwhile, will need to continue; Apple Pay doesn’t allow for user ratings or feedback, thus it was left out of the study altogether.

This is generally good news for the industry as we know it. While expectations are on the rise, which will make things difficult in the weeks ahead, right now things are good. By most every standard, things are good; customers are happy, and getting expectations met for the most part.

Great news, at least for those in play already. Those who haven’t shown up yet, meanwhile, have a real problem afoot; how do you break into a market where customers are mostly satisfied? About the only way a newcomer can make headway in a market like this is to represent a quantum leap above and beyond what’s already been done.

For right now, things are good for the field. Resting on laurels any length of time, though, may result in change, and not a good change for those currently in play. Take advantage of this comparative tranquility to reload and rearm, banking and payments apps…competitors await your weakness for a chance to break in.