Posted by: Olga Kharif on November 18, 2009
Money transfer will be the No. 1 consumer application in year 2012, according to Nov. 18 report from consultant Gartner. The app is expected to have more revenue potential than mobile search and browsing, mobile health monitoring and mobile music. In fact, mobile transfers are expected to be an even bigger business than various types of mobile payments, such as using cell phones to pay for produce at grocery stores.
Money transfers’ popularity shouldn’t come as a surprise. This is a huge business in the U.S. and around the world already. Today, most consumers have to come into, say, a Western Union location or use their PC to complete a transaction. It can be problematic and time-consuming for many people to get to either one; but most everyone carries a phone. Another consultant, Juniper Research, expects international mobile money transfers to top $65 billion by 2014.
For the top 10 features Gartner expects to be present on smartphones in 2012, check out this list.