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The Mobile Commerce Prospects: Corresponding Sections of the Society

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MOB_Schutzumschlag.FH11 Mon May 21 11:39:27 2007 Seite 1 C M Y CM MY CY CMY K Mobile Commerce has gained increasing acceptance amongst various sections of the society in previous years. The reasons for its growth can be traced back to technological and demographical developments that have influenced many aspects of the socio- cultural behaviour in todays world. The need (and/or wish) for Rajnish Tiwari mobility seems to be the driving force behind Mobile Commerce. The launch of UMTS technology has provided Mobile Commerce Stephan Buse with the necessary verve. Mobile Banking presents an opportunity for banks to retain their existing, technology-savvy customer base by offering value- added, innovative services and to attract new customers from The Mobile Commerce Prospects: corresponding sections of the society. The customer survey provides evidence that such sections in the meanwhile include the affluent and financially relevant groups of the society in Germany. The time seems to be ripe to convert this non-negligible A Strategic Analysis of Opportunities customer interest into business-driving customer demand. A proactive attitude on the part of the banks seems to be therefore in the Banking Sector recommendable. Many banks in Germany have come to regard Mobile Banking as a necessary tool for thwarting negative differentiation vis-à- vis rivals and to foster/retain an innovative image. This self- reinforcing dynamism is expected to gain currency in near-future so that Mobile Banking services could soon advance to a standard product on the lines of Online Banking offered by more or less each and every bank. 978-3-937816-31-9 Rajnish Tiwari, Stephan Buse The Mobile Commerce Prospects The Mobile Commerce Stephan Buse Tiwari, Rajnish Hamburg University Press Probedruck The Mobile Commerce Prospects: A Strategic Analysis of Opportunities in the Banking Sector Research Project Mobile Commerce in collaboration with Institute of Technology & Innovation Management Hamburg University of Technology, Germany & Chair of International Management University of Hamburg, Germany The Mobile Commerce Prospects: A Strategic Analysis of Opportunities in the Banking Sector by Rajnish Tiwari & Stephan Buse Hamburg University Press Verlag der Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky Rajnish Tiwari is Research Fellow at the Institute of Technology and Innovation Management, Hamburg University of Technology (“Technische Universität Hamburg-Harburg” = TUHH) in Germany. A graduate in Bu- siness Administration (Dipl.-Kfm.), Tiwari co-leads the research project “Prospects of Mobile Commerce” at TUHH. The main area of his responsi- bility in this project is Mobile Banking. He was awarded with the “Market and Customer Orientation 2006” prize of the Vodafone Foundation for Research for his study on the prospects of Mobile Banking. Dr. Stephan Buse is Assistant Professor at the Institute of Technology and Innovation Management, Hamburg University of Technology (TUHH). Dr. Buse, earlier acting head of the Chair of International Management at University of Hamburg (UHH), founded the research project “Prospects of Mobile Commerce” in 2001 with the intention to conduct in-depth surveys and analysis of consumer behaviour and market developments in various fields of the mobile economy. He continues to lead and guide the project which at present consists of the following mobile commerce applications: Mobile Banking, Mobile Entertainment, Mobile Information Services, Mo- bile Marketing and Mobile Ticketing. Executive Summary Mobile Commerce has gained increasing acceptance amongst various sec- tions of the society in previous years. The reasons for its growth can be traced back to technological and demographical developments that have influenced many aspects of the socio-cultural behaviour in today’s world. The need (and/or wish) for mobility seems to be the driving force behind Mobile Commerce. The launch of UMTS technology has provided Mobile Commerce with the necessary verve. Mobile Financial Services build a cornerstone of Mobile Commerce. They comprise of Mobile Payment and Mobile Banking. Mobile Banking, the primary research object of this study, in turn consists of the following sub-applications: 1. Mobile Accounting 2. Mobile Brokerage 3. Mobile Financial Information Mobile Financial Information can be considered as an independent module and offered as a stand-alone application. Each of the first two sub- applications is offered, in contrast, invariably in combination with informa- tion services. An empirical survey of the customer acceptance conducted under the ambit of this study reveals large-scale interest in Mobile Banking. The cus- tomer interest and the willingness to pay however vary for individual ser- vices. It is therefore necessary to design offers taking cognizance of the needs and wishes of relevant target groups. Mobile Banking presents an opportunity for banks to retain their exist- ing, technology-savvy customer base by offering value-added, innovative services and to attract new customers from corresponding sections of the society. The customer survey provides evidence that such sections in the meanwhile include the affluent and financially relevant groups of the soci- ety in Germany. The time seems to be ripe to convert this non-negligible customer interest into business-driving customer demand. A proactive atti- tude on the part of the banks therefore seems to be recommendable. Many banks in Germany have come to regard Mobile Banking as a nec- essary tool for thwarting negative differentiation vis-à-vis rivals and to vi Executive Summary foster/retain an innovative image. This self-reinforcing dynamism is ex- pected to gain currency in near-future so that Mobile Banking services could soon advance to a standard product – on the lines of Online Banking – offer- ed by more or less each and every bank. Content's Outline 1. Introduction .............................................................................................19 1.1 Statement of Objectives ....................................................................20 1.2 Structure of the Study........................................................................21 2. The Concept of Mobile Commerce.........................................................25 2.1 The Conceptual Background and Perspective..................................25 2.2 The Features of Mobile Commerce...................................................35 2.3 The Specific Advantages of Mobile Commerce ................................37 3. The Regulatory Framework of Mobile Commerce..................................39 3.1 Regulations on Legal Enforceability of Contracts .............................42 3.2 Regulations on Consumer- and Data Protection...............................43 3.3 Categories excluded from Mobile Commerce ...................................44 4. The Technological Framework of Mobile Commerce.............................47 4.1 Technologies for Mobile Data Transmission. ....................................47 4.2 Complementary Technologies of Data Transmission .......................56 4.3 Display and Programming Standards................................................58 4.4 Future-Scenario: The fourth Generation (4G) ...................................61 5. Mobile Applications & Methods of Payment ...........................................63 5.1 Overview of Mobile Applications .......................................................63 5.2 Payment Mechanisms for Utilising Mobile Services..........................65 6. Mobile Commerce in Banking Sector .....................................................69 6.1 Definitions and Scope Issues ............................................................69 6.2 Services Offered in Mobile Banking ..................................................74 viii Content’s Outline 7. Mobile Banking Offers & Employed Mediums ........................................83 7.1 Browser-based Applications ..............................................................85 7.2 Messaging-based Applications..........................................................96 7.3 Client-based Applications ................................................................100 8. Utility of Mobile Banking for Banks.......................................................109 8.1 The Outset of Banking Environment ...............................................110 8.2 Mobile Banking as Distribution Channel .........................................112 8.3 Mobile Banking as Source of Revenue ...........................................115 8.4 Mobile Banking as Business Model ................................................116 8.5 Mobile Banking as Image Product ..................................................117 9. Empirical Research on the Viability of Mobile Banking ........................119 9.1 Customer Acceptance of Mobile Banking .......................................120 9.2 The Banks' perspective ...................................................................167 10. Strategic Assessment of Survey Results ...........................................189 10.1 Relevance of Mobile Banking........................................................189 10.2 Appropriate scope of Mobile Banking ...........................................192 11. Conclusions and Outlook....................................................................195 Table of Contents Index of Tables ....................................................................................... ..XIII Index
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