Facebook must accelerate expansion on payment systems market. In order to to restore the confidence of investors, Zuckerberg have to focus on mobile payments.
The latest Forrester Research report released Tuesday pointed out that 46% of all U.S. bank account holders will be using mobile banking to keep track of their funds.
Mobile payment future
Since so many people are talking about mobile payments, many are also expecting banks to grow their signature apps to include mobile payment options as well, but since there are so many of these individual apps, it will take some API adoption on the part of the banking app developers.
Cash is going to be a thing of the past if mobile and Web payments continue to work their way up the ladder in commerce.
Research out this summer from Gartner says that this year will see more than $171.5 billion in mobile payment transactions. That's a whopping 60% increase on 2011′s $105.9 billion. This means that 212.2 million people (up 32% from 160.5 million in 2011) are using some form of mobile payment service.
And while the technology is out there to offer near-field-communication between smartphones and POS systems, it is Web transactions and SMS services that are making up the bulk of these digital transactions.
Banks obviously want to be cut in on this rather than out.
Gartner sees digital mobile transactions reaching $617 billion by 2016 — but these factors in a slight slowing-down in growth to 42%.
SMS, Gartner research director Sandy Shen notes, is still the primary method used in making payments in developing markets, while in more developed markets, most transactions are made via mobile Internet portals.
One API provider, WePay, just announced today that it is working to gain more adoption but not only lowering the fee it charges per transaction but also boosting its API so that retailers can accept payments more easily without building the infrastructure from the ground up. It seems like banks may be the next investors in mobile banking tech. In fact, I predict some banks will start snapping up promising mobile payment companies any month now. Just you watch
Read more at http://vator.tv/news/2012-08-14-mobile-banking-will-impact-46-of-bank-account-holders?utm_content=futureeurope%40gmail.com&utm_source=VerticalResponse&utm_medium=Email&utm_term=Mobile%20banking%20will%20impact%2046%25%20of%20bank%20account%20holders%20%20&utm_campaign=VatorNews%20-%20Facebook%20director%20Peter%20Thiel%20ready%20to%20sell%20shares%3F%20Is%20Groupon%27s%20mainstay%20product%20fizzling%20out%3F%20Resetting%20Education%3A%20Tapping%20into%20the%20classroomcontent#HxPpmbei2gPx6zdF.99
Appel to Mark Zuckerberg from a group of experts. How to save Facebook from collapse http://www.youtube.com/watch?v=iJFpROVfVOE
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