A Quiet Giant of Mobile Commerce: Carrier Commerce – a weekly blog series by John BaRoss
Today I want to tell you something more about the two major sectors of Carrier Commerce! The two major sectors of Carrier Commerce today are: 1) “Direct Carrier Billing” [DCB] – 2c in the hierarchy – today a $12B global industry, operating in over 100 countries, projected to grow to $18B-$22B in the coming years. 2) “Carrier Mobile Money” [CMM] – 1cii in the hierarchy – today a $2B global industry, operating in over 60 countries today and projected to more than double in the near term Direct Carrier Billing and/or Carrier Mobile Money is available today to over 95% of the world’s population via hundreds of participating Carriers who partner with FinTech PSPs (Payment Service Providers) who enable these services. Today the mobile phone is the most ubiquitous technology worldwide in all developed and developing nations. Carriers globally have over 7B mobile phone accounts … nearly equal to the total global population. This distribution reach of Carriers dwarfs all other payment options combined.
Importantly, Carrier Commerce’s sectors of Direct Carrier Billing and Carrier Mobile Money both address market needs and pain points now. This fact helps explain the significant (yet oddly mostly quiet) adoption of DCB and CMM globally. That market pain point fundamentally dovetails with one of the great noble causes of our time – Financial Inclusion.
While Carrier Commerce is a compelling business opportunity that helps online merchants reach larger addressable markets, there is a higher calling that Carrier Commerce serves in that its unsurpassed distribution is helping improve the lives of countless millions globally.
In the next edition of this series I’ll share more about how Carrier Commerce is helping the unbanked become a part of the global economy – which helps them realize better lives.
Yours John BaRoss