The new Juniper Research’s report titled “Mobile Financial Services: Banking & payment markets 2007-2011” suggests that the “rush by banks and mobile operators” to deliver financial services to the mobile phone will result in just over 612 million mobile phone users generating over $587 billion worth of financial transactions by 2011.
According to the research company, mobile financial services are being deployed in a manner that is similar to the “gold rush” of the 1990s. The report found that the mobile phone has enormous potential when used as a tool for financial services, and is only just at the beginning of a journey that is likely to revolutionise the sector.
Two distinct areas are covered by the report – Mobile Banking and Mobile Payments, with latter predicted to generate almost $22bn of transactions by 2011 and be adopted by 204m mobile phone users…
Further details, including white papers, are available on Juniper’s website.