Comments on: Mobile Payments: $860 Billion By 2013?

By: Paulo

Paulo — Thu, 22 Oct 2009 17:58:47 +0000

Is mobile banking available in Brazil?

By: maya tutorials

maya tutorials — Mon, 21 Sep 2009 09:05:13 +0000

This amount can increase as now-a-days mobile based payment and e-banking is just growing on and on. So in 2013 this amount can increase because still I suppose 40% people not using these features who will start using it. So this margin will be crossed.

By: computerkabel

computerkabel — Sat, 19 Sep 2009 10:19:06 +0000

Wow, can you imagine the fees for both the greedy banks and mobile phone networks?

By: Ravikiran

Ravikiran — Tue, 01 Sep 2009 10:56:21 +0000

Using cards and nfc enabled devices at merchant terminals is fine. What about Cashless, Cardless and Device-less transactions? Stumped? What if my transactions can be completed by 2 factors which I know…? I guess MobiBucks is venturing into that space…A very simple concept of Cell Phone # and PIN on a customised POS device. Would the Student and Yuppy crowd be wowed? Will the growing no of frauds drive people to low ticket pre-paid methods of transaction?

By: pappu

pappu — Wed, 27 May 2009 10:36:25 +0000

Maybe 2013 is a bit stretched. But i see no reason why $860 Billion would be overachieved. It is a matter of adopting to the changes in the banking environment which sooner or later will happen just as people adopted to internet.

By: John

John — Sat, 09 May 2009 18:08:55 +0000

I would tend to agree

By: RDJ

RDJ — Tue, 05 May 2009 18:15:39 +0000

The ease of banking has developed into a model for all other forms of business. As we move into a no cash society we are slow to remind ourselves that all of the transactions being done are recorded to data bases and are being reviewed by some that are not our friends. We are forgetting that when Social Security Cards were first purposed that the public went nuts until the government promised that the numbers were never going to be used for personal identification other than for social security.
The blogs that are written by corporations not only gives out the information that is selected by the corporation’s “who-do’s” of their money info’, corporate growth etc., but also allows the corporation to try the waters. These sites allow the corporations to discover the mood of the public on certain topics. It allows the corporation to basically see what they are able to get away with.
The corporate blogs, such as this one glows with successful corporate earnings and projections. It may also be a way for them to publish all the news that they feel is fit to print.
But these types of sites are good sites to find out ”who is who” within the corporation. It also is a good source to read of some of the corporate developments. What is in the makings for the future with offers such as wider use of e-banking.
In days such as we are now living in people are on the lookout for any and all information on the subject of anything that involves them. Blogs like these provide some of such information. It also allows the individual researcher to discover the feelings, fears and concerns of other that are like involved.
I chose this blog because I have accounts at Bank of America. But I have never visited a blog for BOA.
Maybe I’ll check it out every now and then.

By: Micheal Gargiulo

Micheal Gargiulo — Fri, 27 Mar 2009 18:31:30 +0000

I make it a point to stop off at a McDonald’s or convenience store to buy a cup of coffee nearly every morning. I have a BOA credit card stored in my 6131 NFC handset and I always use it to buy the coffee. It is almost a game. I watch the look on the clerks face as I wave the phone to make the payment. Several times the clerk has called the other store staff to watch my “trick”. Customers behind me in line often ask questions. They want to know where they can get a phone like that and what credit card do they need. The same sort of thing happened when I used the phone to get on the MTA subway in NYC.

The point is that end consumers, when exposed to the technology, love it and they don’t have to be sold that it is useful. Nirvana will come when a top notch device like the iPhone has an easy to use wallet function combined with NFC. Of course the bulk of the $860 Billion that is projected will come from less sophisticated devices and that is OK. The iPhone will highlight what is possible.

Sure, infrastructure will be needed. More merchants with contactless support are a big issue at the moment but I think there are enough to get the snowball rolling. A trailblazer is needed to let the world know this is for real… Baby steps should be taken that will allow for a course correction as more knowledge comes to light……. At that time the $860 avalanche will begin.

By: Mobile Payment: $860 Billion By 2013? | MOCOM2020

Mobile Payment: $860 Billion By 2013? | MOCOM2020 — Thu, 26 Mar 2009 15:30:11 +0000

[...] the Center for Future Banking they are actively examining the mobile space and attempting to understand the technical, social and [...]

By: Sridhar

Sridhar — Wed, 25 Mar 2009 14:22:44 +0000

The $860B figure is exciting and intriguing at the same time. I wonder whether this points to beginnings of fundamentally a new economy - like what internet and online commerce generated or just a zero sum migration?

Mobile Payments seems to me a natural progression of things:

cash->checks->cards->Smart cards->
commands issued over internet/networks (online) ->
commands issued over mobile network.

Does the figure of $810B represent the natural growth progression or implies much more than the normal natural growth? with some new multiplier effects?

Furthermore, the key question is what will change in terms of the value chain - reduction in oveall transaction costs, sharing of earned-value fairly across the value chain, entry of new entities in the chain such as mobile operators.

Currently there is more or less a deadlock amongst the major players (Cards Issuers, Merchants and Mobile Operators) What developments and/or disruption is likely to change this? Would sheer scale and magnitude of the mobile payments trigger changes?

On the internet side, security and escrow services enabled likes of Paypal to fill a major need and earn their position in the value chain. Are there new compelling counterparts for the mobile world?

Would appreciate your thoughts on what such new and unfilled needs are likely to be generated by the increase of mobile payments? which will lead to new value chains and larger economies?