Dave Hatter: the future of money and mobile commerce

Tech expert Dave Hatter will be live on-air Tuesday morning with some tips and tricks when it comes to paying bills using a mobile device.

Here is a cheat-sheet created by Dave just for you:

"In the last twelve months, customers around the world have ordered more than US$1 billion of products from Amazon using a mobile device," – Jeff Bezos, Amazon CEO (July 2010).

  • Mobile commerce will increase at a rate of 65% annually to reach $24 billion in 2015. (Coda Research)
  • mCommerce grew about 150% to 200% last year. (TBI Research)
  • Active mobile banking users in the US will grow from 10 million in 2009 to 53 million by 2013 (TowerGroup)
  • mCommerce will be bigger that eCommerce within 5 years. (Huffington Post)
  • In 2015, $119 billion worth of goods and services will be purchased via a mobile phone. (ABI Research)
  • The market for mobile payments is expected to quadruple by 2014, reaching $630 billion in value. (Juniper Research)
  • 20% of all consumers and 32% of 18-34 year olds are researching purchases via mobile at least monthly. (ATG, Inc.)

Mobile Commerce, also known as M-Commerce or mCommerce, is the ability to conduct commerce using a mobile device. More formally defined as:

"Mobile Commerce is any transaction, involving the transfer of ownership or rights to use goods and services, which is initiated and/or completed by using mobile access to computer-mediated networks with the help of an electronic device."

According to comScore, up to November 2011 there were 38 percent of smartphone owners have used their phone to make a purchase at least once

5 mobile payment models:

  • Contactless: NFC and RFID
  • mobile apps
  • SMS
  • Web
  • USSD

3 types of mobile payments:

  • mCommerce: mobile browser, online wallet and online commerce
  • mPayments: contactless mobile apps. Credit card info on phone
  • mWallet: intended to  replace real wallet. Fund are loaded into phone, optionally scan barcode for item, amount deducted from account

Security remains a key barrier to adoption.


Dave Hatter of Libertas Technologies, LLC is a tech expert and the recipient of several awards including:

2012, 2011, 2010 & 2009 US Chamber of Commerce Blue Ribbon Small Business Award
2009 Cincinnati Chamber of Commerce Small Business Excellence Award
2008 NKY Chamber of Commerce Small Business "SUCCESS" Award
2007 Cincinnati Better Business Bureau Torch Award

Be sure to check out Dave and Sheila Tuesday morning at 8:25!