A Market of 5 Billion Connected Users
The explosive growth in e&mCommerce, combined with the rapid rise of smart phones and features phones, and emergence of proximity technologies, has reinvented the way all personalized transactions are conducted – in the virtual and real world.
After couple false starts, mCommerce is firmly entrenched, and while the term largely refers to all transactions conducted by mobile phones over-the-air, the popular term for conducting transactions in the real world over mobile phones using proximity mediums such as Near-Field-Communication or barcodes is mPayments; a much respected industry analyst has forecasted that the combined market for mCommerce and mPayments worldwide will be $630 Billion by the year 2014.
While the first wave of services for mCommerce, and subsequently mPayments, have been related to financial services, the next wave promises to encompass all personalized transactions, ranging from healthcare to governance.
Similarly, while the first wave of services were largely vertical and sectoral in nature, the next wave promises true aggregation of disparate providers, consequently delivering more value to consumers and helping them recognize the true potential of convergence between the Telcos, Banks, and Merchants.
C-SAM has been a trend-setter for each of these waves, first establishing the necessary intellectual property, followed by field tested products and services, and finally a global delivery framework which can be customized to support local business models; the Company is well positioned to help providers leverage this much awaited convergence and unleash the power of 5 Billion connected users.