Description

Mobile banking, or m-banking, is considered a revolution in the Banking and Payments industry. The incremental increase in the penetration of mobile phones was instrumental to the growth of the Global Mobile Banking market in the last decade. Before the influx of smart phones, people used simple Java-enabled and WAP-based phones. Moreover, carrier charges were quite expensive ten years ago, thereby limiting their usage. However, growing competition in the Telecom industry and the increasing usage of smartphones and value-added services has contributed to the growth of the Global M-banking market worldwide. The industry is also expanding in Bangladesh, with more and more banks and financial institutions entering this arena. Our cover story portrays the various dimensions of this growing industry and the major hurdles that are impacting the growth of the industry.