Mobile Money

A couple of years ago we were excited at the thought of m(mobile)-commerce. It was at the point of explosion. Ideas, brainwaves, promises, speculation, expectation and forecasts that today we haven’t quite reached. The talk is still there, it hasn’t disappeared but still it’s not as hype as it use to be. But this could be about to change.

You may or may not use it but we have all heard of SMS. And it is this that Verizon Wireless and Netpace (a mobile solutions company) are hoping to turn in to the new m-commerce tool.

Netpace’s technology will simply allow customers to bill internet transactions on their mobile phones to their Verizon accounts rather than their credit cards. For many this will not only spark a new way around internet security / credit card breaches but it will also enable a new convenient way of making transactions on the move. The current terminology that seems to be darting around for this “premium text messaging“.

Market researcher Telecom Trend International estimates the global market for m-commerce will take a considerable leap from last years $7 billion to exceeding $550 billion by 2008.

Entrepreneur
Verizon
Netpace