It is clear that seamless transactions hold enormous promise in making our daytoday lives more convenient, in the process introducing higher levels of efficiencies, and fostering healthier competition. There is no doubt that this will significantly drive down costs, and effectively improve the quality of life for consumers across all strata of society.
There is a good reason why cell phones achieved significant adoption in a relatively short period of time. Its utility was selfevident to the consumer and the entire ecosystem was incentivized to push for maximizing coverage. What started out as providing an efficient tool for basic communication, quickly became a platform for all kinds of value added services, with a direct link now established between its adoption and GDP. mTransactions and in particular seamless transactions hold similar promise, and could become an even more powerful socioeconomic force.
The Strategic Insight on Illusive Adoption gives an overview of advent of mobile money and mobile payments, adoption of mobile payments across developed and developing countries, latest players in the mobile payments industry and trends in mobile payments & mobile commerce.
This strategic insight is authored by Mehul Desai. His latest book, August of Money – The Quest for Cashless Society, is being published by LTP and is the source for this insight.
Note: Strategic Insights are long form articles written by MEDICI analysts about a specific FinTech topic, trend, region, and news category or industry segment. Insights are collected via direct interaction and dialogue with industry players and thought leaders. Strategic insights can be integrated with the related Segment Snapshot, Research Report or Infographic for a more detailed analysis.