Why do you think more consumers are using their phones for mobile payments and mobile banking?
The answer to the question varies by country.
For example, in Africa, mobile payments is enabling people to pay their utility bills, which means they do not need to spend a whole day once a month queuing to pay their utility bills. And the local government can send hardship payments directly to the people in need.
In Germany, mobile payments is being used to make Internet shopping safer—and with a lower-than-average adoption of credit cards in Germany, it enables online shopping using just your bank account—and your mobile phone.
In America, it is being used so people can keep on top of their finances and increasingly to enable bill pay via the phone.
In parts of Asia, it is enabling migrant workers to not only send money safely and securely home, but also to enable parents to remote top-up the airtime credit on the children’s phones, ensuring they can always phone home.
And the list goes on. As you can see there is no single reason for mobile payments—it will fulfill different needs in different parts of the world.
The case study cited in Asia sounds like much based on Philippines.