This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
The striking thing about MWC 2023—officially about mobile and telcos—is how much fintech there was, with payments and money services increasingly becoming the most attractive revenue stream because they can push the consumer to make their mobile the center of their consumer lives.
The striking thing about Mobile World Congress 2023 (MWC 2023)—officially about mobile tech and telcos—is how much fintech there was. Across the event, the range of technology projects, products, services, and emerging research that put financial services into the mobile tech stack was quite something to behold. That does not mean that all these things were good, strategic, and commercially sound ideas. If there is an overarching takeaway, it is that we are in a period of significant flux: technology is advancing so quickly, in so many different directions, that it can be difficult to tie it together into a smart, strategic package that works for large commercial organizations. It is very easy to be dazzled by all the innovation and the fast pace of it, and that is where Omdia helps ensure that whatever clients want to do, they connect the technology with the realities of the market.
Telcos and fintechs broaden their money services offerings
Omdia’s Telco Services Innovation Radar has recorded no fewer than 21 new money-related product launches by telcos in 4Q22 that are trying to make money services a new revenue stream within their businesses. In part, this addresses the declining profitability of the core business of selling airtime and data: as that market saturates, there is a need for other revenue streams. Payments and money services are the most attractive revenue stream because they can push the consumer to make their mobile device the center of their consumer lives: if the service providers can ensure that people migrate more of their financial lives onto their mobiles—servicing their banks, utility bills, shopping, pensions, investments, and peer-to-peer payments—then it positions the telco at the center of their digital lives, with all the long-term revenue commitment and valuable data that comes with that.
The key trends in the retail payments sector in 2023. Global adoption of RTP will accelerate, open banking payments awaits its first hero use case, and security/fraud management is the top investment priority for payment infrastructure.
Omdia’s payments technology forecast covers information and communications technology spending supporting the payments lines of business of financial institutions globally.
Data / 08 Jul 2022 / Daniel Mayo
The Analyst Team
Senior Research Analyst, Financial Services
Ouliana Smith has specialized in financial services for 10 years and currently works in Omdia’s financial services team. Since joining Omdia in 2022, she has focused on digital transformation in retail banking and fraud solutions with a strong interest in alternative payments.
Ouliana started her career as an associate analyst with Datamonitor, now GlobalData, a global market intelligence provider, where she specialized in the Cards and Payments area. She also supported corporate partnerships by conducting research and interviews with industry executives and authoring content investigating fraud and new payment technologies. Later, she moved into wealth management, overseeing key industry analysis, modelling, and bespoke content for clients. She also developed a contacts database to augment proprietary data and market analysis. Ouliana holds a first-class honors degree in mathematics from Coventry University and an upper-second-class honors degree in art history from the Open University.