According to a recent Bloomberg article by Joseph Galante, “EBay expects PayPal to eventually become its biggest business, with revenue reaching $5 billion by 2011.” That’s a good sign for web and mobile payments.
Recognizing how mobile payments will growth beyond the U.S., Obopay last month appointed Dilip Nagaraja as its Executive Vice-President of Global Engineering.
Quoted in the Business Standard, Obopay CEO Carol Realini said “Dilip will strategically guide the company’s technical direction as we continue to develop state-of-the-art mobile payment products and drive our business to newer heights in the developed and emerging markets.”
October 21st, 2009
Recent data is pointing to the explosive growth of mobile payments and now Thomas A. Layman, a former chief economist at Visa Inc. and the founder and president of Global Vision Group in San Mateo Calif., said “that recession-wracked consumers likely would warm to mobile payment technologies that could help them better manage their spending,” as reported in MobileBanker.
October 16th, 2009
With an objective to highlight the mobile phone utility and the next level of mobile telephony, Internet and Mobile Association of India (IAMAI), today organized a national symposium on financial inclusion through mobile phones.
With nearly 440 million subscribers, mobile phones cover nearly 40% of the country’s population. Given the unprecedented coverage, mobile phones are increasingly been seen as agents of socio-economic development – reaching out opportunities to people and places way beyond any other instrument.
“Financial Inclusion and penetration of organized banking among the rural Indian population is a key priority area for an all inclusive growth. There is a huge opportunity in terms of further improving existing set of methodologies for financial transactions. Mobile phones fit into the picture so well, as they could take the financial inclusion initiative to the next level. Mobile payments or financial transactions through mobile devices carry huge importance and relevance for the Indian banking scenario. Government have understood it’s potential and working very aggressively towards enabling this system as penetrative as possible,” said MrR Chandrashekhar, Secretary, Department of Information Technology, Ministry of Communications and Information Technology, Government of India while delivering a special address at the event.
October 12th, 2009
Mobile isn’t burgeoning anymore, it has arrived. How can we tell? How can’t you?
Starbucks has adopted mobile payments in its stores. Amazon debuts a payment system. Mobile phone stores are almost equaling the number of coffee shops on local streets.
Maybe that’s an exaggeration.
But, we’ve seen AT&T, Verizon, T-Mobile, and MetroPCS stores open all within one block of one another – and even watched mobile phone companies enter fertile markets such as rural Africa and India.
Were the fast food wars even this explosive?
October 5th, 2009
We’re often asked if the future of banking will be mobile, and more and more it’s looking that way. While the entire banking industry may not only be mobile, AdAge reports “How Mobile Technology is Changing Banking’s Future” in its latest issue. Taking an excerpt directly from the article:
“Recent technological developments that allow for deposits by iPhone and mobile payments could one day make ATMs as quaint as brick-and-mortar bank branches. But the biggest impact may be on the ability of banks — and even nontraditional players such as Nokia — to find new revenue streams as they branch into emerging markets where cash is still king.”
September 23rd, 2009
The “gross transaction value of mobile payments in South Korea will reach $1.54 billion in 2013″ reports Research and Markets. A full copy of the report explains the usage and trends. As Obopay CEO Carol Realini also pointed out on Twitter, the Russian mobile payments market is expected to grow to $3.66 billion by 2013.
September 17th, 2009
As reported by IntoMobile, Juniper Research’s latest report states that NFC mobile payments will exceed $30 billion by 2012. Quoting IntoMobile and the report:
Some of the findings from the NFC research include:
- First NFC devices will be shipped commercially later in 2009 and the market will ramp up from 2011;
- NFC/Felica payments are already established in Japan but by 2014 North America and Western Europe will be experiencing high growth;
- By 2012, NFC global gross transaction value will exceed $30 billion.
September 11th, 2009
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