Think of new business opportunities created by mobile payment
Mobile payment, also referred to as mobile money, mobile money transfer, and mobile wallet generally refer to payment services operated under financial regulation and performed from or via a mobile device. Instead of paying with cash, check, or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods. Although the concept of using non-coin-based currency systems has a long history,it is only recently that the technology to support such systems has become widely available.
Mobile payment is being adopted all over the world in different ways.Combined market for all types of mobile payments is expected to reach more than $600B globally by 2013,which would be double the figure as of February, 2011,while mobile payment market for goods and services, excluding contactless NFC transactions and money transfers, is expected to exceed $300B globally by 2013.