It gives me immense pleasure to be a part of Mobile Commerce Conference 2015. AbacusConsultingis proud to be the main sponsor of the conference for the 5th consecutive year. This has been a notable platform for showcasing the advancement of mobile commerce in our country. Congratulations to the State Bank of Pakistan and Pakistan Telecommunication Authority for playing their part in generating thought leadership in our country through this forum and my compliments to the organisers of this event.
The world has reached the tipping point of the transition from PCs to mobile devices. People are now more reliant on their smartphones than ever and thus this opens up a whole new paradigm of how companies could run their businesses. The data compiled by leading research organisations shows that mobile consumers spend 89 % of their time on mobile apps and a mere 11% on mobile web. This demonstrates the shift in consumer behaviorregarding theadoption of mobile platforms and an increasing need for mobile commerce solutions. In the last couple of years the emerging Asian market has become the most dominating region in terms of mCommerce. With nearly 2.5 billion out of the 4.3 billion mobile phone users world-wide, Asia generates the largest share of global mCommerce revenues.
Pakistan is experiencing major changes on the mobile platformadoption landscape. With the introduction of NGMS (Next Generation Mobile Services) and the advent of 3G/4G, the mobile phone penetration in Pakistan has increased by a considerable margin. The mobile penetration at the end of FY 14 reached 76.6% compared to 68.5% in 2012. Moreover, the cellular subscriptions reached 139.9 million at the end of FY 14 compared to 128.25 million in 2013, depicting an increase of 9.1% as compared to 6.7% during the corresponding period last year. The overall impact of these advancements opens up new avenues for basic mobile financial services. Therefore, the changing trends in our country would prompt the evolution of mCommerce and the domain ofmobile financial sector will be fully exposed to the market. Also with the State Bank of Pakistan supportinginnovation in this sector, we can forecast rapid progress. At AbacusConsulting, we aspire to promote mobile financial services and branchless banking interoperation in Pakistan and implement branchless banking technology solutions. Our experts are committed to provide end-to-end solutions including Mobile Banking, Payments and Mobile Financial services starting from Consulting, Roadmap development, go to market strategy, technology implementation, call center and agent network development and management services.
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