it is important to understand that mobile banking and mobile payments are wholly different animals.[From Glenbrook Partners: Mobile P2P Payments Continue to Evolve in the US]
He’s absolutely right, of course, and it appears that as time goes by the two animals are evolving into different species. A great many of the people who want mobile banking are in the developed world, have PayPal accounts and don’t need another P2P service (mobile or otherwise). What’s more, in the US the services that they are using are not even really “mobile” services at all (in that they don’t use any of the services or functions of the mobile network, SIM or handset), just web services jammed on to a smaller screen. Conversely, a great many of the billions of people around the world who want and need mobile payments do not need a bank account or anything like it. What they want is a simple, cheap, transaction system.
Banks have all sorts of things that most consumers, in most of the world, most of the time, do not need. Expensive headquarters buildings, an investment banking division full of rogue traders, a well-padded board, a CEO that earns 200 times the salary of the average employee, private jets and a dodgy loan portfolio. No wonder it’s difficult for them to provide a basic, inexpensive, payment service.
These opinions are my own (I think) and presented solely in my capacity as an interested member of the general public [posted with ecto]