Digital Commerce 2.0: Show me the (Mobile) Money
At our forthcoming Digital Commerce 2.0 Executive Brainstorm in London, 12-13 June, we will be presenting new research exploring the business case for mobile money services from both a telco’s perspective and a bank’s perspective. We will consider whether the business case is strong enough to justify the roll out of new hardware, as advocates of NFC maintain, or whether mobile money services should primarily be implemented in software. To find out more about our research services, to join the event, or find out how else you can participate, please email us on firstname.lastname@example.org.
Background to the research
Mobile money services are gaining momentum across the world. In fact, some experts believe we are on the cusp of a mobile money revolution. At the recent Digital Commerce 2.0 Executive Brainstorm in Silicon Valley (report here for subscribers), Antonio Benjamin, Managing Director, CTO, Global Transaction Services at Citi, forecast that in 2014 there will be $1.13 trillion in global mobile transactions, up from $60 billion in 2010 (see slide below). That represents a head-turning compound annual growth rate of more than 100% per annum.
These bullish forecasts are being fuelled by the proliferation of mobile money transfer services across the developing world, in the wake of the success of M-Pesa in Kenya, and the expanding pipeline of handsets equipped with Near Field Communications (NFC) technology, which can be used to enable mobile payments at point of sale.
But how much value will mobile money transactions actually create and for whom? Will consumers be the primary beneficiaries or will the entire mobile money value chain prosper?To share this article easily, please click: