Looking for strategies to re-launch retail banking: the mobile payment ecosystem

The mobile payments service includes all the initiatives that enable payments or money transfer by cellular phone, regardless of the means of payment used (credit-debit-prepaid cards, phone bill) and the technology involved (remote payment via internet, contactless payments at a POS or direct remittance by cellphones). The industry of mobile payments today is still in a start-up phase and the nature and extend of approaches to these innovations are not uniform around the world and inside the same countries. The way and the intensity it will be widespread in the market is going to depend on the ecosystems that would be designed and developed. As for this purpose, the scope of the article is first to highlight the main variables enabling or limiting its diffusion in the market. And secondly it is to highlight why retail banks should enter the mobile ecosystem mainly to regain their key role in the market as they had in the past.