The mobile phone is ubiquitous. The GSM Association, a global trade group representing 700 GSM mobile phone operators, says there are more than three billion mobile phones active worldwide, and there are now more of them in developing economies than developed. A recent white paper from Juniper Research summed up the potential of the phone as a payment device: “User demand for convenient and intelligent ways in which to make payments for goods and services using a mobile phone is creating exciting opportunities for those organisations that are part of the payment ecosystem.”
