Fueling the digital commerce economy
Phenomenal advances made by mobile technology, coupled with its reach, have given rise to innovative models in new-age commerce, which are empowering both businesses and customers. Telecom enterprises are looking at new revenue-generating options, while increasing customer stickiness through services that give customers the convenience they look for. Banks, for their part, are exploring ways to reach out to unbanked customers, offering them a complete range of financial services.
Mobile financial transaction represents one such new model that helps bridge the gaps that telecom enterprises, banks, retailers and other businesses face, so they can reach out to millions of customers – thus touching their lives in a meaningful way. Mobile financial transaction, thus, creates a market that never existed.
Mobile financial transaction specifically addresses key market needs such as:
- Providing access to financial instruments to every section of society, especially the unbanked and semi-banked sections in emerging economies (where mobile phone penetration is higher than bank branch penetration)
- Providing secure, seamless, and efficient ways to make both large and small transactions
- Enabling digital commerce for the new-age digital consumer – anytime, anywhere