Mobile Payments

Carlo Longino writes:

The thing is though, most mobile payment systems are still a product in search of a market. Who needs PayPal-style mobile payments, really? The idea of using your phone to PayPal a merchant for purchases really isnt that compelling when youve got credit and debit cards and good old cash, and reverse billing to a mobile phone bill works pretty well for mobile content.

In emerging markets, however, theres a huge opportunity. People are already using airtime as currency in some places, and Globes G-Cash system in the Phillippines is probably the best example of a mobile micropayment system. The opportunity for this type of m-banking, whether its official and run by a bank, or a more de facto or improvised system is huge. Several companies are already working in these areas, and theyll find much more success than PayPal, or anybody else, pushing mobile payments in Europe and North America.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.