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Archive for 31/01/2008

“Gold rush” ahead for mobile banking

mobilesandbanking.jpgMobile operators and banks are set to experience a “gold rush” as consumers turn to their mobiles to make financial transactions, claims a new report.

The report, “Mobile Financial Services: Banking & payment markets 2007-2011,” by Juniper Research, claims this trend will result in 612 million mobile phone users generating around £295 billion worth of financial transactions between 2007 and 2011.

The report distinguishes two types of mobile financial transactions: mobile banking and mobile payments.The latter is predicted to generate almost £11 billion in transactions by 2011 and be adopted by 204 million mobile phone users, with uses including sending money back home and paying fares on public transport.

Source: PC Pro


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