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U.S mobile payments transaction volume will exceed US$6.9 billion in 2011, according to a study from U.S.-based consultancy Mercator Advisory Group. The report also forecasts that mobile banking fee revenues will be worth over US$1 billion in 2011.
The U.S. is seeing a major surge in mobile commerce activity as major banks such as Citi, Bank of America and Wachovia team up with mobile carriers and technology vendors to roll out m-banking services and trial m-payments systems.
A new business model is emerging for U.S. m-banking services, under which fee revenues are split between banks, mobile operators, payments networks, and technology vendors, Mercator says. According to Mercator, there are currently a dozen mobile banking and m-payments initiatives underway in the U.S.
"Unlike previous one-sided efforts by mobile operators and banks, today's m-banking applications leave something on the table for all the participants in the mobile financial services ecosystem,” George Peabody, research manager at Mercator Advisory Group's Debit Advisory Service, says in a statement. “That's what has been missing up to now; business models that work for banks, mobile operators, and platform and network vendors."
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www.mercatoradvisorygroup.com
