U.S. Mobile Banking and Payments: Finding the Seams, Accelerating the Pace
JUNE 1, 2007 — 1:00pm EST (1 hour)
George Peabody, Director, Emerging Technologies Advisory Service
Mobile banking and mobile payments are moving to the forefront after a disappointing outing during the dot-com era. Today, improved mobile computing and communications technologies have combined with business models that the mobile network operators can support to accelerate mobile banking in particular. The result is a wave of mobile banking deployments using a variety of back end and mobile user interfaces. While mobile payments in the US continue to lag, the mobile banking platform will address specific payment types that help educate subscribers to the benefits of mobile financial services. Meanwhile, NFC-based payments at the POS continue to move through pilots with initial ecosystem-level deployments scheduled for late this year.
In it’s latest teleconference, Mercator Advisory Group’s George Peabody, Director for the Emerging Technologies Advisory Service, examines the expansion of these mobile banking initiatives, compares m-banking usage scenarios and development approaches, and the relative benefits and pitfalls to each. The teleconference will conclude with a brief discussion of the m-payments domain and opportunities for payments companies within it.