QUOTE
Mobile money is hot commodity but cooler than it should be
By Joe Wilcox | Published July 21, 2011, 11:46 AM
Global mobile payments will generate $86.1 billion in revenue this year, Gartner forecasts today. That's up 75.9 percent, from $48.9 billion, in 2010.
The big numbers are coming from a relatively small base -- 141.1 million users, up 38.2 percent from 102.1 million last year. That base isn't growing fast enough.
"In developing markets, despite favorable conditions for mobile payment, growth is not as strong as was anticipated", Sandy Shen, Gartner research director, says in a statement. "Many service providers are yet to adapt their strategies to local requirements, and success models from Kenya and the Philippines are unlikely to be translated to other markets".
Conceptually, mobile money/payments should be the killer application for cell phones of all categories. The feature lets cell phone owners store/send/receive money in accounts associated with their mobiles, providing banking and payment features to people who otherwise wouldn't use commercial banks, particularly in emerging markets.
Please read more about at:
http://www.betanews....d-be/1311262568
By Joe Wilcox | Published July 21, 2011, 11:46 AM
Global mobile payments will generate $86.1 billion in revenue this year, Gartner forecasts today. That's up 75.9 percent, from $48.9 billion, in 2010.
The big numbers are coming from a relatively small base -- 141.1 million users, up 38.2 percent from 102.1 million last year. That base isn't growing fast enough.
"In developing markets, despite favorable conditions for mobile payment, growth is not as strong as was anticipated", Sandy Shen, Gartner research director, says in a statement. "Many service providers are yet to adapt their strategies to local requirements, and success models from Kenya and the Philippines are unlikely to be translated to other markets".
Conceptually, mobile money/payments should be the killer application for cell phones of all categories. The feature lets cell phone owners store/send/receive money in accounts associated with their mobiles, providing banking and payment features to people who otherwise wouldn't use commercial banks, particularly in emerging markets.
Please read more about at:
http://www.betanews....d-be/1311262568
