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Others smartphones 14 12 10 08 06 04 02 0 2008 2009

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Unformatted text preview: rce strategy for the first time this year. Others Smartphones 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0 2008 2009 2010 2011 2012 2013 2014 S TRAIGHT TALK I T 19 I n the past, banks were studiously indifferent to ALEX KWIATKOWSKI m-commerce, preferring to let others, most notably those within the mobile operator community, attempt to stimulate growth. Ovum believes this passivity must change. In 2010, banks face the danger of losing market share if they do not play an active role in m-commerce developments. Two main factors are influencing banks’ renewed interest in m-commerce. Firstly, m-commerce is an intrinsic component of mobile banking, a channel that institutions have been making increased investments in for the last two years. Secondly, m-commerce has a vital role to play in the adoption of the next generation of mobile payment instruments based on contactless technology. 20 S TRAIGHTTALK I T OVUM’S DEFINITION OF M-COMMERCE M -commerce is defined by Ovum and Datamonitor as “the purchase of physical products, services and digital content, where the transaction is initiated and payment completed through use of the over-the-air (OTA) element of a mobile device.” Please note that this definition is specific to the financial services sector. It is important to acknowledge that from the perspective of players in the retail industry, “mobile commerce” is a broad term that encompasses all forms of interaction with a consumer via a mobile device, such as issuing electronic coupons, providing loyalty services, and creating dedicated websites that are specifically designed to facilitate mobile browsing. Note these expanded topics are beyond the scope of this article. The development of mobile banking influences the growth of m-commerce THE COMPONENTS OF INFORMATIONAL AND TRANSACTIONAL MOBILE BANKING SERVICES Ovum has previously defined mobile banking as “a service, which can be informational or transactional in nature, delivered to or accessed via a cellular [mobile] device”. In this context, the “informational” and “transactional” categories typi...
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