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Posted by Benjamin Ensor on September 21, 2012
This is a guest post from Myriam Da Costa, a researcher serving eBusiness & Channel Strategy professionals.
France has been quick to embrace mobile banking. Banks like BNP Paribas and Société Générale were among the pioneers of mobile banking in Europe and since 2009, all of the big French banks have launched iPhone mobile banking apps, so most French banks now offer several forms of mobile banking. The first wave of mobile banking was about getting the basics down and offering customers functionality like balances, transaction histories and SMS alerts. The second wave now focuses on money transfers and payments.
As we wrote in our report on The State Of Mobile Banking In Europe 2012, mobile banking is the foundation for mobile payments. France's banks and mobile operators are moving fast to seize the opportunity. In the past two years there has been a wave of new mobile payment initiatives in France: Buyster, Cityzi, Kwixo, Kix and S-money.
Those mobile payments projects initiated by banks and mobile operators in France attest to the strong desire to take a lead in mobile banking and payments. The mobile payment market in France is expanding rapidly and competition is fierce. But there are two different approaches: some banks have adopted NFC-based mobile contactless payments while others have chosen to launch Internet-based mobile payment apps. Both depend on persuading merchants and customers to adopt. We expect the Internet-based systems to grow faster. As Denée Carrington wrote on her blog: hardware-agnostic mobile digital wallets face fewer hurdles than NFC-based wallets and will have faster adoption.
We'd love to hear your thoughts on mobile banking and payments innovation below.