Global

Details

  • Type: Survey report
  • Date: 6/17/2011

Monetizing mobile: Corporate mobile payments 

Corporate mobile payments
There are a number of key areas where mobile solutions may offer a convenient and valuable service to corporate banking clients. For small-to-medium enterprises, mobile authorization and account inquiries enable business and finance leaders to review and approve charges in real-time and provide the necessary approvals to process payments.

"Mobile services are a great way for corporate banks to grow their middle market and corporate customer offerings while also developing their global footprint."

– Mitchell Siegel, KPMG in the US

Facilitating processes for mobile payments

Hierarchal authorization processes, common in most medium and large organizations, can also be facilitated by mobile payment solutions, particularly in organizations where key authorization personnel are frequently on the road or traveling between disparate locations.


And while some corporate banks suggest that revenue generating opportunities are not their prime objective in developing mobile payment solutions, the challenge is often based in how corporate banks view the added value of mobile features in the corporate world.

Driving revenue through mobile payments

“Those corporate banks that approach mobile solutions as a simple extension of their existing ecommerce capabilities likely won’t see it as a potential revenue driver,” said Mitchell Siegel, a Partner in the financial services practice at KPMG in the US. “But many innovative banks are finding that they can actually drive revenues from mobile by bundling enhanced corporate services such as cash management tools and key back office functionality.”
 

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We encourage you to contact your local KPMG member firm, or email banking@kpmg.com to talk to one of our mobile banking specialists.


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The era of mobile banking and payments is dawning. Find out how mobile will change the way banks and their customers interact.