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Last Mile In Mobile Money Is „Cash"

The competition for market share for mobile-wallet business is intensifying as consumers increasingly settle transactions with their smartphones. Industry research organisation Gartner believes that transactions will reach a volume of $617 billion by 2016, making mobile payments a worthwhile prize by itself, if providers and the technologies they adopt satisfy key consumer expectations (note 1). The ultimate prize for all participants, lies in the current accounts of consumers across the continents.
Sixty-two percent of the respondents in Croatia say the government's political decisions impact the payment method their company accepts, which is 핸드폰소액결제 important as the success of mobile payments in Croatia depends also on the government's preparedness for technological change, Doederlein said.

Mobile payment (also referred to as mobile money, mobile money transfer, and mobile wallet) generally refer to payment services operated under financial regulation and performed from or via a mobile device Instead of paying with cash , cheque , or credit cards , a consumer can use a mobile to pay for a wide range of services and digital or hard goods.
Just a few years ago, SMS payments were one of the most popular methods of using mobile phones to pay for goods or services (even for person-to-person payments) or donate to charity, and for good reason due to its simplicity - all the user needs is a phone with text capability and prepaid SIM card or phone contract.
They were also more likely to make other bad financial decisions, like overdrawing checking accounts, racking up credit card fees, borrowing from payday lenders, or dipping into their retirement accounts early, according to research by the Global Financial Literacy Excellence Center at the George Washington School of Business.

See the case of Rajabu, a flower seller who cut his time from order to delivery in half and reduced the time to be paid by customers, but sometimes needed to split payment over two days to stay under transactional limits imposed by the central bank, which used to allow only $330 per transaction instead of the current $650.
In addition, if the payment vendor can automatically and securely identify customers then card details can be recalled for future purchases turning credit card payments into simple single click-to-buy giving higher conversion rates for additional purchases.

In many markets, providers encourage retailers to add mobile money services to their existing business offerings, with the assumption that agents benefit from multiple sources of revenue and the ability to share fixed costs across multiple businesses.
And the payment-apps landscape is still such that living cashlessly in 2016 means entering your credit card information or routing number into dozens of stand-alone apps, some of which look as if theyвЂve been built overnight by a high school computer science class.
The combination of such factors as advanced alternative credit scoring frameworks, increased mobile phone adoption, internet connectivity, regulatory push, and, most importantly, eID ecosystems, will draw the most attention to markets with no strong legacy infrastructure in place to stop or inhibit the adoption of advanced technologies.

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