3. 2000 2005 2010 P2P Trading P2P Payments Personalised Search eBay for things … iTunes for music … Who for money? New companies enabled by technologies are transforming industries . . . Next? P2P Finance P2P Finance ? ? Mobile Payment ? ? Banking Unbanked P2P Lending P2P Voice P2P Video P2P Info P2P Social P2P Photos
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8. Other Growth Initiatives: e.g., Pocket Banking (1) Opportunity in online payment space FT Feb 12, 2007: “…study found that mobile users in Latin America, eastern Europe and Asia were more than twice as likely to use mobile banking services than respondents in western Europe and the US.” FT Feb 12, 2007: “ There are now many more mobile phones in use in developing countries than in the developed world - 1.65bn versus 1bn. UN Nov 8, 2006: “Nine out of 10 low-income m-banking customers surveyed say m-banking is "not expensive" or is "inexpensive" for the benefits it offers, and 93 percent say they feel their money is as safe as with any other bank .”
9. Other Growth Initiatives: e.g., Pocket Banking (2) India : Nokia breaks record on October 19, 2006: sells 400,000 handsets in 1 day India : 150,000 mobile phone connections are sold per day, 6 million per month (2006 average) China : Over 487 million mobile subscriptions sold in China – the largest mobile phone market by volume (April 07) India : 80% of the population lives on 2US$/day – the mobile phone is the poor man’s home (World Bank) China : 372 million fixed phone subscribers (April 07). Cost conencting fixed line remote area 1,400US$, mobile conenction 500US$ UN : in 2005 global migrants remitted $232 billion , of which up to 20% was lost on the way, mostly in bank charges. China? In most cases: the cost of an SMS, no fees, no payslip needed to enroll, no need for others to have bank accounts, no robbery etc..
10. Example Pocket Banking (Obopay) Entirely new ways of engaging in payments – the P2P dimension:
