The Most Popular Mobile Payment in Use Today [Infographic]
Are you familiar with the most popular mobile payment in use today? While mobile payment options like NFC and cloud-based wallets receive all the hype, Direct Carrier Billing (DCB) has gotten little attention despite its extensive use, immediate viability and great potential. DCB really started out as a way to buy ringtones and wallpapers, but today it has become an easy way to monetize apps, and a powerful tool to grab a portion of the “app economy” that’s estimated to be worth $25 million.
While there are 6.8 billion mobile phone accounts, there are only 3.5 billion people with bank accounts and only 2.15 billion with credit card accounts. As such, financial inclusion of the unbanked represents the biggest benefit offered by DCB. Other benefits of DCB include a smooth customer experience and higher conversion rates. Emerging markets present the greatest potential for DCB. In Indonesia, over 83 percent of total Windows Phone Store purchases are processed over DCB. To learn more, including the formula for carriers to move DCB to the next level, check out the infographic below!