As Dave, jbond and Ms. Daisy picked up on, mobile payments came up in various conversations and keynotes during the show. And, it will take all sorts of interesting shapes. One of the things I believe Nokia's Elop mentioned (have to check my notes) was this concept of putting mobile banking into the hands of people in developing countries...people who had never had a banking account in their entire lives are now/soon will be running transactions over their phones. So, think of all the doors that opens for people especially in developing regions.
Anecdotally, too, a friend of a friend told me that he went out to dinner with someone from the show. When the bill came, the guy pushed some buttons on his mobile, and a few seconds the waiter returned with a receipt to sign. I suppose it was some sort of credit card, PayPal or banking transfer, but it sounded like magic to me.
If you're interested in reading more, checkheck out the story on page 13 of this MWC daily newspaper: http://mobilebusinessbriefing.com/Content/showdaily/mwc/2011/monday/
Also, this is such an important topic that GSMA (the MWC's organizers) will be hold a Mobile Money Summit in Singapore the end of June. Here are some interesting stats on the site (http://www.mobilemoneysummit.com/event/event_overview.shtml)
Mobile Money Facts
Over 1 billion customers have access to a mobile phone but no access to formal financial services
There are over 90 live mobile money deployments around the world, 27 of which are in South Asia
Over 80% of these deployments are in developing markets
Research has shown that mobile money products and services create significant revenue benefits not just from transactions but also cost savings from airtime sales along with churn reduction and a rise in ARPU. Mobile Money generates profits.
I trully welcome the change in mobile business, its about time we improved past Graham bells "hearing" telephone. At a more serious level, are the mobile phones able to swipe credit card for business yet? That will certainly help commerce on the go!
Certainly consumer needs are driving both the portability and functioning of the mobile phones.
The world has seen a drastic change in mobile technolgy over the last decade.The competition between big players will lead to much more enchamenets in design and deveolpment of technology.In terms of software, there is a growing reasearch in operating systems and apps for different uses. Mobile business is changing from ears to eyes is very interesting quote from stefehn. So companies have to be much keen on the mutli media. Coming to hardware design, mobiles with dual core processors is being introduced to the market. Companies should focus on the design aspects for smooth functioning.
The mobile banking and bill paying seems to be the largest growth segment right now that could really skyrocket and produce excellent numbers. When you add in the new technology that allows people to photograph checks to deposit them and take a picture of documents and have the info automatically transferred to a form or spreadsheet. I for one use the mobile banking all the time. I haven't had the opportunity to use the new technology for the images, but I’ve heard great things about it.
According to a 2010 research report by Generator Research, the worldwide mobile payments market will reach $633.4 billion by 2014.Just to put this into perspective, the mobile payments market for 2009 was $68.7 billion.Also, the report suggests that mobile payment users will grow by 600% to 490 million in 2014.Mobile payment users for 2009 were 81.3 million.
Mobile payments could be one of those “Next Leaps” of mobile.
When I first read the word congress I thought it has something to do with politics. No one can deny that how crucial is a mobile phone in today's era. One day if you forget taking you rphone to your office you feel something big is missing. Its almost as necessity now. would like to know more about the summary of MWC.
That's a lot of brainpower in one room (figuratively speaking). I couldn't have imagined the state of mobile computing as it is now 10 years ago. This isn't exactly groundbreaking, but "simplicity" is going to be the next hurdle. I'm beginning to find all of the competing platforms, OS, apps and service options overwhelming. Obviously, it is going to shake out, but I feel like I'm already behind the curve if I wait for that to happen. This is a great summary and would be worth revisiting from time to time to see how things have developed.
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Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
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