Enthusiastic summit with the speaker from Obopay

This week the Pelorus Group’s Mobile Financial Services Summit was held in Denver. The speaker of the summit was Gregory Holmes, U.S. president for Obopay who noted that participants overall were enthusiastic about the recent successes in mobile banking.

It should be underlined that enthusiasm was not groundless as in fact we can see escalation of mobile banking activity for the past year. In 2007 mobile banking service was introduced on a countrywide level by AT&T and the same year Qualcomm also announced its intention to acquire Firethorn. Verizon Wireless introduced mobile banking earlier this year. Last month Bank of America reported about its strategic investment in technology provider mFoundry.

According to TowerGroup adoption of mobile banking among the US consumers increased 4 times over a period of 12 months from 1.1 million active users in 2007 to 5.7 million active users today.

As for Obopay the company is not offering services that use the mobile phone to buy items so far. The company primarily focuses on using the mobile phone to transfer funds from person-to-person offering services in the United States and in India. Thus the first international widget of Obopay in the near future will be between the United States and India.