Mobile commerce strategies for B2C payments

B2C payments, a radical transformation

B2C payments is undergoing radical transformation due to rapidly evolving mobile technology, rise of smartphones and tablets, wireless networks and rollout of 3G/4G networks. Technologies like NFC (used in mobile wallet e.g. Google wallet), direct carrier billing (like BoKu, Zong) and mobile as point of sale (like Square, iZettle) are increasingly becoming next discipline for remote banking esp. bill payment, fund transfer and peer to peer(p2p) payment. Accordingly to new Juniper report, Mobile payments value will see close to 300% growth from $240B in 2011 to $670B in value by 2015. According to AlixPartners Study, mobile banking adoption is expected to reach 50% by 2016 and 39% customers will switch banks only due to mobile banking offerings.

This Infosys white paper elaborates further on the future of mobile and commerce.

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