Bottom-of-pyramid poised to leapfrog with mobile wallet

Friday, June 26, 2009

Empowerment of the bottom-of-the-pyramid never looked so feasible. A revolution is silently but forcefully sweeping the
developing countries, that could soon equip every single person with a mobile wallet and provide them with not just digital payment facilities but huge savings as well.

The trend in mobile wallet usage has shown such vigour in countries like the Philippines, Malaysia, Thailand and Pakistan, not to mention Asian leaders in that domain, Japan and South Korea, that it could give a complex to consumers in western economies.

According to Justin Ho, co-CEO of Singapore-based Utiba, a company that is a global supplier of mobile commerce platforms for mobile operators and financial institutions, the spread of mobile payment systems promises to lift the economic status of a significant number of people across the world.

Source: The Economic Times (link opens in a new window)