This week David Birch posted an insightful commentary on the business case for mobile payment (as opposed to mobile banking). His discussion was in part a response to a study by Deloitte and partially prompted by new mobile payment projects recently announced by two large UK banks.
A brief extract (you should read the whole post)
The answer depends on the question (if you see what I mean). Deloitte
are posing a particular question: given that the business model remains
the same as it has been for decades, what is the ROI on this particular
payment technology? Answer: not that great. Other people are asking an
innovation question: given the possibilities opened up by the new
technology, what new business models will emerge? Answer: no-one knows,
but for a relatively small expenditure it is worth it for banks not to
take the chance of getting outflanked and gain the opportunity to (as
Deloittes note inside their report) to explore new value-creating
opportunities around the payment itself.
Another good resource on this topic is this is a January 2007 Edgar Dunn eInsight newsletter that breaks down mobile financial services, identifying key features and the various stakeholders and outlines key success factors.
Mobile Financial Services: Unlocking the Potential
Edgar Dunn Insight eLetter
(free registration required)