Mobil experience is ripe for innovaiton, with location-based system + mobile payment + mobile broadband + social networks we are going to see a lot experience innovation. A mobile2mobile payment service company Obopay has just acquired social payment service Billmonk. Not sure if you know this company. It is very cool, you can check it out here. Billmonk is a free tool that allows you to track your IOU-like type of agreements with friends, roommates and family members, you can also track your other stuff like CDs, DVDs, books, etc. So if someone borrow some money or books from you and this is your central repsoitory and personal debt management system. Just add what you borrowed from your friend and he will immediately have it confirmed in his space at BillMonk. Not sure what kind of behavior that we are promoting. Imagine an automated email sent to you reminding you to repay your friend that $50 you owe him when you guys went out for a drink? One idea to create new revenue opportunity is to provide "Micro-debt Recovery Service", kind of the $10s and $20s that you lend people since high school, that's quite a bit of money here. College kids would love this.
Both companies' revenue are proabbly not significant, but the integration of the two services will first let users settle the debts they tracked on Billmonk instantly over Obopay’s mobile payment platform and eventually by email. You can see Obopay’s release here and Billmonk’s here. They called this "Social Accounting" . I guess it is easy being a stragist these days, jsut add "social" to anything we'll have a new strategy. There are quite a few players including PayPal Mobile, TextPayMe and KushCash. Google will launch mobile payment within the next 6 months. Pretty crowded place, but there's always room for innovation.
