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Today we’re presenting you with another mobile financial services report. This one’s coming from ABI Research, which argues that mobile financial services are very likely to become the “next big thing” that will attract many millions of consumers.
According to the research company’s senior analyst Mark Beccue, mobile financial services have the potential to be bigger than mobile TV and premium mobile content in terms of numbers of subscribers. “They have the broadest demographic appeal: almost anybody over the age of 18 is a potential user,” he added.
There are three kinds of mobile financial services are of three kinds: mobile banking, mobile domestic person-to-person payments, and international person-to-person payments.
While mobile banking services are likely to find their greatest market in the industrialized world, mobile domestic and international person-to-person payments may be game-changing developments in less prosperous regions, enabling commerce, extending services to rural regions, and possibly even helping people previously excluded from the financial system to lift themselves out of poverty.
ABI says that this market [person-to-person payments] is largely recession-proof because with few exceptions it’s not about consumers spending their money, but managing it.
The research company also noted that when it comes to mobile banking, Bank of America has been a leader. It launched its mobile banking services in May 2007 and at the moment their service covers about 1.5 million subscribers…
More information about ABI Research’s new report titled “Mobile Banking and Funds Transfer” is available from their website.
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
