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Yankee Group Says Low-Income Market Initiatives Will Drive Mobile Banking in North America
Publish Date : 1/30/2008 5:45:00 AM Source : Mobile and Gadgets News Onlypunjab.com
Yankee Group today announced that mobile banking (m-banking) must become available to a majority of mobile users including prepaid and low-income consumers if it is to succeed in North America. M-banking solution providers in North America can learn an important lesson on service adoption from international low-income initiatives as the global rise of the Anywhere Consumer™ takes hold.
According to the recently published Yankee Group Report, Mobile Banking Lessons from International Low-Income Initiatives, there is a difference between the way m-banking solutions work overseas and in North America. In countries such as South Africa and the Philippines, m-banking keeps low-income consumers’ money safe; at the same time it reduces fees, which makes these services affordable. On the other hand, North American providers typically market m-banking to a more affluent and technologically advanced user as a convenience service. However, m-banking can also benefit low-income consumers in North America much as it has overseas. “M-banking in North America is gaining traction, but it’s still far from becoming a reality,” said Patrick Monaghan, senior analyst, Yankee Group Consumer Research group. “Success in North America will be determined by overcoming the biggest issues in adopting m-banking; the cost of data plans by wireless carriers, security and consumer knowledge about it.” In today’s Anywhere mobile environment, communications players are feeling pressure to identify new revenue streams as consumers gain greater control of their communication services and products. Monaghan’s report reveals how low-income initiatives overseas that tap the low-income consumer group (such as m-banking) aligns with the Anywhere Consumer’s expectations in the global economy, enabling communication players to get ahead of the global connectivity revolution. Low-income consumers in North America make up 21% of all mobile phone consumers. But technology and price barriers continue to keep this segment of the population in North America from adopting m-banking services. Several key factors will drive m-banking success in North America: M-banking needs to be cheaper than traditional channels. Providers must target low-income segment to find early adopters of the service. Sales and marketing must address account eligibility, ease-of-use and cost. M-banking needs to be easy to use. Users will still need human interaction, so branch access or phone customer service should be part of any package. A must-read for all players in the communications industry including wireless carriers, mobile phone manufacturers, banks and credit card companies, this Report is available at www.yankeegroup.com. YANKEE GROUP (www.yankeegroup.com) The people of Yankee Group are the global connectivity experts™—the leading source of insight and counsel for builders, operators and users of connectivity solutions. For nearly 40 years, Yankee Group has conducted primary research that charts the pace of technology change and its effect on networks, consumers and enterprises. Headquartered in Boston, Yankee Group has a global presence including operations in North America, Europe, the Middle East, Africa, Latin America and Asia-Pacific
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Reliance to sell phone cards through post offices
Publish Date : 1/28/2005 12:31:00 PM
Reliance Infocomm, the telecom services arm of corporate behemoth Reliance Industries, Thursday said it had entered into an agreement with the department of posts ....
Mobile Productivity Inc. Acquires AIS/IDENTIFIX
Publish Date : 1/25/2005 10:51:00 AM
Mobile Productivity Inc. (MPi), a premier automotive repair information and service merchandising provider, announced today the acquisition of Automotive Information System ....
CSK Auto Corporation Announces Sale of Automotive Information Systems
Publish Date : 1/25/2005 10:34:00 AM
CSK Auto Corporation (NYSE:CAO) announced today that on January 21, 2005, CSK Auto, Inc. (CSK) sold all of the issued and outstanding capital stock of Automotive ...
T-Mobile UK Selects MyNetonomy for its Corporate Customers
Publish Date : 1/24/2005 11:07:00 AM
Netonomy, the leading provider of customer self-service solutions for communications service providers, today announced that T-Mobile, one of the world's leading ....
Stan Lee Goes Wireless Around The World With Vidiator
Publish Date : 1/19/2005 11:02:00 AM
He's amazing, uncanny, incredible and now he's also wireless.
Samsung Electronics Says High-bandwidth 512Mb Memory Will Enable 3D Graphics in Smaller Mobile Phones
Publish Date : 1/19/2005 10:16:00 AM
Samsung Electronics Co., Ltd., the world leader in advanced memory technology, today announced that it has completed the world's first working prototype of a 512Mb mobile ...
Motorola Signs Technology Agreement with E Mobile's CHL
Publish Date : 1/12/2005 1:04:00 PM
E Mobile Information Technologies (Pink Sheets:EMTK) wholly owned subsidiary, CHL Technologies, has signed an agreement with global communications leader Motorola ....
Motient Announces Signing of Term Sheet to Purchase Additional Interests in Mobile Satellite Ventures
Publish Date : 1/12/2005 11:17:00 AM
Motient Corporation (Pink Sheets:MNCP) announced today that on January 10, 2005, it signed a binding term sheet with Telcom Satellite Ventures, pursuant to which ....
Tata Indicom launches mobile service in Punjab, Haryana, HP
Publish Date : 1/6/2005 12:42:00 PM
Tata Indicom on Wednesday launched its
mobile telephone services in Punjab, Haryana, Himachal Pradesh
and the Union Territory of Chandigarh at an investment of Rs 600
crore in phase one.
Wherify Honored with Two Prestigious 2005 CES Innovations Awards for GPS Locator Phone
Publish Date : 1/5/2005 10:01:00 AM
Wherify Wireless, Inc., a leading developer of wireless location products and services, today announced that it was been honored by the Consumer Electronics Association....
Total Results : 28
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