No big bang for mobile payments

Outfits entering the nascent mobile payments market need to realise that success will require forging a financially viable ecosystem for all parties involved. Telcos, issuers, card schemes, merchants, and consumers all need to be on the same page.

The mobile payments market has long been gestating in developed markets, and is now finally starting to gain momentum in terms of product launches and levels of investment from significant players across the financial services, IT, and telco markets. However, it is clear that the market is unlikely to reach a big bang moment, and will instead continue to evolve on several fronts at once. What this also means, however, is that market entrants must think beyond existing business models to find a means of creating a financially viable mobile payments ecosystem for all parties involved.

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