Our post last week on the pending launch of “Google Buy” again highlighted the vital role that US-based IT firms and the American market play in the development of mobile payment and related technologies. But as we have repeatedly pointed out, the US is only one datapoint on the global mobile money growth map, with the real action in mobile payments in the coming years will inevitably involve serving the 95.5% of people in the world who don’t live in America.
Cellum’s commitment to this larger global market is being underscored once more by a new initiative in East Asia, where the multinational developer of mobile payment solutions this week unveiled a new regional center. Based in Singapore, Cellum APAC will be responsible for coordinating expansion across the booming Asia-Pacific region. It will also strengthen operations in those national markets where the firm is already present, including Thailand, where the country’s first multifunctional mobile wallet capable of card payments was launched last year using Cellum’s cutting-edge technology.
“The birth of Cellum APAC is a huge milestone in the company’s history, as a local presence will significantly help us with our investment plans and also speed up our development efforts,” said Cellum Global CEO János Kóka.
“Cellum has already gained a foothold in the region, not only achieving considerable success in Thailand, but also having been selected as a service provider by key industry players in Japan and Indonesia,” said Roxanne Davies, the new executive director of Cellum APAC. “Today, leading financial institutions, telcos and retailers see Cellum as one of the most promising companies in the East Asian mobile payments industry.”
The opening of Cellum APAC comes as new research from IDC and others suggest that Asia’s combination of limited existing financial infrastructure and surging smartphone penetration could make mobile payments the preferred form of consumer financial transaction.
Meanwhile, Cellum Global will open a separate unit dedicated to serving the vast Chinese market, with an official launch held in conjunction with this July’s Mobile World Congress in Shanghai.
“Asian markets have an enormous potential for secure mobile payments and commerce,” added Davies.