Name Your Price in the Billion Dollar Mobile Payments Industry

(PRWeb) February 28, 2007 -- In the recent 3GSM World Congress 2007 summit in Barcelona, several companies were displaying new and innovative mobile payment systems that have been devised or are already in some kind of pilot across the world.

The GSM Association, a trade body for mobile phone operators made two interesting announcements.

The first announcement, an initiative to enable 600 million mobile phone users in more than 100 countries to transfer money internationally.

The Second, an initiative called 'Pay-Buy Mobile' which is a natural progression for the industry according to the GSMA's program - announced last year - to define a common global approach in enabling Near Field Communications (NFC), the technology used to link mobile devices with payment and contact less systems. By embedding mobile contact less services, such as credit and debit payments, in the SIM card.

When analysed carefully, there is a huge potential here. Less than one billion people have bank accounts worldwide, but close to three billion now have a mobile phone, according to the GSMA.

Several innovative companies have already begun offering mobile payment systems. Examples include Pay pal mobile, Cyphermint and Obopay in the US.

Apart from money transfer services, there also exists an enormous potential in providing prepaid debit cards and payroll card services via mobile phones.

Combining mobile phones with prepaid debit cards, payroll cards and money transfer services will extend the role of mobile phones in people's everyday lives.

Success Formula

The technology currently exists that can transform the traditional sim cards found in most mobile phones into payment cards, an innovative company in this industry could succeed by purchasing the following three domain names.

PrepaidDebitCard.Mobi, PayrollCard.Mobi and MoneyTransferCard.mobi

Asking price $1.5 million.(February 2007)

The current asking price will be increased Starting March 2007 on the 26th of each month by $100,000.00 until the domains are sold.

Benefits to the buyer includes the buzz generated from the purchase of these domains, flowers.mobi sold for $200,000.00 recently.

For more Information, visit www.PrepaidDebitCard.org

###