Apr 13, 2009

Mobile Payment: Mobile devices are to dictate the future of money

Mobile banking is on the rise together with the invention of new mobile devices and mobile apps.
Juniper Research predicts that globally 150 million people will be using mobile banking in 2011. And this does not have to mean the spreading of NFC phones as the smartphones can reach any web site and they possess financial applications on them which can reach a bank account with ease.

And in some cases you do not even need to reach your bank account or your credit card. Your payment -which might be done with an SMS or via an application or with NFC technology- could also be linked to your GSM Phone bill. GSM operator collects the money and distributes to the clients.

In fact there are hundreds of different mobile payment methods, and this might lead to a confussion and non-standardization. But one thing is pretty certain, mobile operators are staring the finance world as a mouth watering main course.

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