Philippines to lead in mobile commerce, expert says

As the texting capital of the world averaging more than two billion text messages a day, the Philippines is predicted to become the leader in mobile commerce.
John Owens, a well-known microfinance expert who serves as chief of party to Microenterprise Access to Banking Services, said with around 76 million mobile phone subscriptions in the Philippines, it is more than double than all the country’s bank accounts of 33 to 34 million. He said that potentially today people can be provided with financial services just by using the phone.
“Mobile commerce reaches all levels of society. From those who are considered the unbank (people with no bank accounts), to rural household where the whole infrastructures putting ATMs, and physical bank networks won’t reach — the mobile phone does,” Owen said, adding there are tremendous opportunities being seen worldwide about the growth of the mobile commerce industry, especially MMS (multimedia messaging service) which is now reaching almost half of the globe’s population.

As the texting capital of the world averaging more than two billion text messages a day, the Philippines is predicted to become the leader in mobile commerce.

John Owens, a well-known microfinance expert who serves as chief of party to Microenterprise Access to Banking Services, said with around 76 million mobile phone subscriptions in the Philippines, it is more than double than all the country’s bank accounts of 33 to 34 million. He said that potentially today people can be provided with financial services just by using the phone.

“Mobile commerce reaches all levels of society. From those who are considered the unbank (people with no bank accounts), to rural household where the whole infrastructures putting ATMs, and physical bank networks won’t reach — the mobile phone does,” Owens said, adding there are tremendous opportunities being seen worldwide about the growth of the mobile commerce industry, especially MMS (multimedia messaging service) which is now reaching almost half of the globe’s population.

Read the complete article on IDG News online.