Mobile Payments in Search of a Business Model

July 16th, 2009

“California-based Obopay…operates in India and the United States and is looking to move into other markets. Obopay made news most recently with a $35 million investment from Nokia…Obopay services can be tied into a bank or credit card account or prepaid card. It’s carving out a niche not currently served by credit or debit cards with people-to-people transfers such as a parent sending money to a child at college or to a relative during an emergency…And many small merchants don’t accept credit cards, so it becomes an easy way to pay for haircuts, babysitting and other smaller purchases, according to David Schwartz, senior director of product management and marketing.”

You can read the full article here on ITBusinessEdge.