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Some of you may have read
the book "The Tipping Point" where all of
a sudden something or somebody turns a product, service,
activity or an ordinary action into a phenomenon. An
idea will take off. A new fashion trend is started.
Someone or something is suddenly "hot". It's
time has come. And the tipping point is where it all
happens.
This is exactly how I feel right now about Mobile ATM
which I learned about recently. I really feel that Mobile
ATM could become a phenomenon.
Consider:
Imagine your 17 year old daughter calls you at midnight
asking you to pick her up, but then her phone runs out
of credit before she can tell you where she is. You
will be able to top up her account in seconds now with
Mobile ATM launching in 2005.
Two of Britain's top five high street banks and four
mobile operators, including Vodafone, are preparing
to launch Mobile ATM with Link, the cash machine network,
that will allow users to check their bank balance and
top up pre-paid handsets with a few clicks of their
mobiles.
MobileATM starts with balance enquiry and pre-paid top
up, but will extend to include other services such as
the ability to access account history.
It is a joint venture between Morse, FTSE 250 computer
services group, and Link, which is owned by 22 financial
institutions and is responsible for switching all cross-bank
cash machine traffic in the UK. Mobile ATM uses Link's
existing technology to create the look of a cash machine
screen on a mobile, offering much the same services
with the exception of withdrawing cash.
Great services have the following components:
They start by fulfilling a basic human need
They are easy
They spread virally as buyers become sellers, or
users become transmitters.
Think Skype, Navio, Hotmail, and now Mobile ATM.
After texting a code number, Mobile ATM users launch
the web-based application on their mobile screen.
They will need to wait two days for a "one-off
activation number" in the post, which will allow
them to view their account balance on their phone. Link
believes the service will be popular because figures
show its cash machines are used 60 m times a month for
balance inquiries.
This is one to watch take off.
Visit the MobileATM website www.mobileatm.co.uk
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Ariadne Capital Journal - Through the Maze Volume
4, Edition 2
