Some Statistics and trends:
- EBay generated $ 2 billion in global mobile sales in 2010 across 190 countries.
- PayPal’s worldwide mobile transactions have skyrocketed from $ 25 million in 2008 to $500 million in 2010.
- Smartphone sales grew 72% in 2010; 300 million smartphones were sold globally in 2010.
- There are over 3 billion mobile phones worldwide. Over 40% of the world’s population carries a mobile phone, far more than using a computer or having internet access.
- Mobile Phone is fast emerging as a ‘preferred’ transaction medium.
- Online Commerce is gaining share vs. Offline Commerce as consumers change their behavior and expectations with rapid development in technology.
The Mobile Commerce Opportunity
Any discussion of the potential opportunity must first start with a basic understanding of what we mean by “Mobile Commerce.” Mobile commerce comprises two categories: (1) Mobile banking and (2)Mobile payments; Money transfers. Mobile banking refers to situations where the mobile phone is an access channel for financial services. Mobile payments and money transfers apply to cases where the mobile phone is used as a payment device to affect the transfer of value from one party to another.
