Kevin’s Mobile Money News Weekly is an online newsletter made up of the most interesting news, articles and links related to mobile payments, mobile money, e-wallets, mobile banking and mobile security that I run across each week. I am specifically targeting market size and market trend information.
This holiday season consumers are beginning to shop and make purchases on their mobile phones. The shift from buying presents in front of the computer at home or work to doing it during bus commutes or while standing in line at cafes is small but noticeable.
PayPal has announced a whopping increase in mobile payments this festive season. In the month to December 15 the online payment processing company registered a 300 percent rise, compared to the same period last year.
A new ABI Research report calls the short term growth of mobile online shopping "nothing short of phenomenal." Purchases in the U.S. attributed to mobile online shopping, excluding travel, grew from $396.3 million in 2008 to $1.4 billion in 2009. ABI expects full year 2010 sales will more than double again, to more than $3.4 billion.
With Google recently demonstrating their new Android phone which aims to replace credit cards and Apple's forthcoming iPhone 5 due to launch in spring 2011 containing an inbuilt near field communications chip, mobile payments on the go are getting closer to reality.
The mobile banking operations of Smart Communications Inc. is forecasting a 30 percent increase in the volume of transactions this year. The mobile banking operations target the so called under banked and the unbanked segment of society, creating a virtual financial ecosystem with the use of mobile phone technology.
According to Mashable, the Nexus S phone uses near field communication that can securely communicate credit card information to payment terminals. The short range signal is compatible with contactless devices such as MasterCard's PayPass, American Express' ExpressPay and Visa's payWave, meaning you could buy groceries and more with a simple tap of your smartphone. No wallet required.
ABI Research polled 2,000 consumer technology users and asked about their mobile shopping habits. The results show that almost 50 percent of smartphone owners have shopped in the past or intend to shop in the future using their mobile phones. The survey also revealed that 53 percent of respondents use their smartphone for mobile banking.
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Wireless NFC technology enables devices, including mobile phones and payment terminals, to communicate with one another or read special tags. Its short range signal, convenience and built in security make NFC an apt choice for mobile payments.
Giant retail electronic payments network operator Visa has released a free iPhone app in the United States, giving users access to over 50 merchant offers ranging from clothing and dining to entertainment.
eBay is setting records in terms of mobile sales this holiday season, recently announcing the marketplace’s biggest shopping day ever via mobile phones in terms of gross merchandise value. eBay mobile GMV grew by 127 percent to $5 million in the U.S. and 165 percent globally to $13 million on Sunday, December 12 from the same Sunday last year.
Lately, Google has been showing off Android phones with NFC chips in them that can power mobile payments.
A Canadian company, Omnego, is bringing next generation cards and coupons to smartphones with digital card production using its Web based enterprise software platform.
JCPenney has unwrapped a number of new mobile initiatives, investing heavily in new technologies just in time for the holidays so customers can easily make purchases directly from their mobile phones.
A poster conspicuously displayed at a shopping mall in Nairobi reads: "You can pay using your M-Pesa, ZAP, yu Cash or IkoPesa account." This has become a common invitation in almost every shopping center in the country, an indication of how increasingly the mobile wallet is influencing our daily lives.
http://www.standardmedia.co.ke/InsidePage.php?id=2000023103&cid=457&story=Goodbye Cash, I have my mobile wallet
UK based Juniper Research said recently that total end user revenues for in game purchases on mobile devices will hit $11 billion annually worldwide by 2015, nearly double the $6 billion recorded in 2009
Kevin Benedict, SAP Mentor, SAP Top Contributor, mobile industry analyst and experienced mobile industry executive, offers both one and two day onsite workshops designed to educate and inform executives and management teams on enterprise mobility and mobile strategies for businesses. This workshop is designed to provide a complete overview of enterprise mobility and what it means to the business. The workshop is customized based upon the needs of participants. For more details visit http://mobileenterprisestrategies.blogspot.com/p/workshops.html.
Recent Articles by Kevin Benedict
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Mobile Expert Interview Series: SAP's Nick Brown
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Syclo and the SAP Unwired Platform
What are Your Predictions for Enterprise Mobility in 2011?
Santa Goes Mobile this Holiday Season
You can follow me on Twitter @krbenedict and read my blog, Enterprise Mobility Strategies.
Also available are Kevin’s Mobile Retailing News Weekly and Kevin’s Mobility News Weekly.
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Kevin Benedict, SAP Mentor, SAP Top Contributor, Mobile and M2M Industry Analyst
Phone +1 208-991-4410
Follow me on Twitter @krbenedict
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Full Disclosure: I am an independent mobility consultant, mobility analyst, writer and Web 2.0 marketing professional. I work with and have worked with many of the companies mentioned in my articles.