April 7, 2008- Wireless devices are quickly becoming more than just a convenient way to place and receive phone calls while you are away from home. Users gain access to more and more services each year. Banks, e-commerce providers, and wireless carriers are making it easier for users to carry out business and pleasure transactions via their mobile device. Amazon.com even allows users to purchase items via text messages. Citibank has begun testing service to allow user to transfer funds via handset. More and more vital services are being placed at cell phone users’ fingertips. The simple push of a button is allow access to more and more services that are saving precious time for customers.

Of course, all this is not just for the convenience of the user. Business are also being allowed to charge (sometimes unreasonable) fees for access to these and other such services. 3.8% of Americans already use their mobile device to check things such as bank balances or send payments, and that number is rising. Revenue for businesses offering such service is expected to rise $8 billion in 2012 from $65 million in 2007. And for cell phone providers, any application or service that can be added that makes users feel that their cell phone is indispensable is wonderful. The more users rely on their handset, the more they use it and the more likely they are to keep renewing their service, and thus the more money the cell phone companies are making.

Source: Businessweek.com

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