Mobile Account Management: The Mobile Commerce Enabler
Source: First Data
The cornerstone of mobile commerce is the ability for consumers to manage money in their electronic wallets - bank accounts, yes, but so many other account types, too. In the same way people manage the cash and cards they carry in their physical wallets today, consumers need to be able to manage the purchasing instruments and rewards programs in their electronic wallets. This is called mobile account management, but what does that really mean? Today, people put cash into their wallets by going to an ATM and withdrawing money from a bank account. They pay credit card bills with checks or electronic funds transfers drawn from a bank account, and debit purchases are immediately deducted from a bank account.