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Pyramid Uncovers Challenges and Opportunities for Banks in the Mobile Commerce Ecosystem
Nov 30, 2011 (04:11 PM EST)
CAMBRIDGE, Mass., Nov. 30, 2011 /PRNewswire/ -- It's no surprise that the mobile commerce ecosystem is growing rapidly with the number of smartphone users expected to reach 1.3 billion in 2015. Value chains are still in the trial-and-error stages, creating challenges and opportunities for banks and financial institutions looking to enter this market, according to Jose Magana, Practice Leader on Mobile Payments and Banking and Consultant behind Pyramid's new Mobile Commerce Landscape Insight Pack.
Mobile Commerce Landscape Insight Pack is a new research service that combines extensive database resources with high-level expert analysis to enable payment vendors to identify and exploit new telecom revenue opportunities in mobile payment and banking. The Mobile Commerce Landscape Insight Pack offers analysis on current trends and best practices in mobile payments in emerging and developed markets. It includes up-to-the-minute data and market forecasts, an in-depth research report and a live session with a Pyramid consultant, giving quick and direct insight into key trends.
To learn more, download a sample of the report and its excel template here.
"Banks have all the infrastructure and systems in place to effectively serve the market," says Magana. Finding a way to be able to effectively communicate to and attract the unbanked is just one challenge facing financial institutions. Mobile devices offer an efficient new distribution channel for financial institutions to serve these new customers at a way that is profitable. In addition, mobile devices offer substantial opportunities to improve the value proposition to current financial service customers with LBS, payment and informational services. Promoting the idea that mobile banking and payments are secure for the customer is another challenge financial institutions are faced with. "Financial institutions are finding success in expanding the penetration of services to other segments such as insurance, micro financing, and money transfers," he adds.
Industry Insight Packs are the latest addition to Pyramid's product portfolio. For more information on how Pyramid delivers strategic value to service providers and technology suppliers in the mobile commerce space through custom consulting services, download the Mobile Payments/Mobile Banking toolkit.
Pyramid Research (www.pyr.com) offers practical solutions to the complex demands our clients face in the global communications industry. Our analysis is uniquely positioned at the intersection of emerging markets, emerging technologies and emerging business models, powered by the bottom-up methodology of our market forecasts for more than 100 countries – a distinction that has remained unmatched for more than 25 years. As a telecom research arm of the Light Reading Communications Network (www.lrcn.com), Pyramid Research contributes to the only integrated business information platform serving the $4 trillion global communications industry.
The Light Reading Communications Network (www.lrcn.com) combines the most trusted telecom research brands with award-winning online communities and a rich events portfolio to deliver the only integrated business information platform serving the global communications industry. With the power of this platform, leaders who build, deploy, finance and regulate next-generation telecom networks are able to make more informed decisions on emerging market and service opportunities. The Light Reading Communications Network is a division of UBM TechWeb (www.ubmtechweb.com), the global leader in technology media and business information.
SOURCE Pyramid Research