As banking over the internet on a laptop or a desktop grows in popularity, the next natural step is MVAS banking. A major American bank is already advertising “snap” check deposit via a quick picture taken with a customer’s mobile phone.
Video-enhanced IVR systems also make mobile bank transactions easy regardless of location. Speech recognition can provide security by recognizing the speech patterns of customers and making PIN code keystrokes unnecessary. Mobile stock transactions might also benefit from this technology.
In developing countries where many people own mobile phones but do not have bank accounts, network operators are encouraging convenient, fee-based money transfers via mobile phone for migrant workers who are sending money home, traders who need to pay suppliers, or small factories that want an easy way to pay wages.
Another category “beyond” mobile banking is mobile payment. Operators already have a billing mechanism in place, allowing the mobile phone to potentially replace credit and debit cards. Mobile healthcare services are also enriching traditional service access.
Finally, mobile advertising is a steadily growing multi-billion dollar industry. The internet appears free-of-charge to users, yet they are constantly bombarded with ads and offers. The mobile industry seems to be following the same model with subscribers often choosing to view a commercial rather than pay for a service. Print advertising is beginning to contain an alphanumeric code or QR icon that can provides access to a short video or product picture on a mobile phone.