However, moving forward into a new decade this looks set to change, potentially revolutionising what the mobile can offer its customers. The onset of smart phones and a banking-led drive (with a closer relationship with network operators) for this sector suggests this potentially lucrative market will not be reserved to the odd success such as M-PESA in Kenya
Fulcrum Telecom is well placed to handle the niche recruitment this sector demands, both in the developed and the developing world. With a constant focus on how the industry is evolving through research, conferences and round table events, Fulcrum is in a unique place to lead the telecoms recruitment sectors' involvement in this space.
The 'traditional' mobile banking success has already arrived and established itself in developing countries, as shown, for example, in the highly touted success of M-Pesa in Kenya that has branched into Tanzania. Easypaisa is on its way in Pakistan as is GCash in the Philippines. Services include mobile bill payments, money transfers (highly sought after for the 'unbanked'), paying for goods and even betting! Having found the right formula for success in these markets there is already a pool of talent with great experience in developing the success of a particular client in a particular region.
As we all know, one market and its demographic can be very different from another, hence the need in emerging market entrants to seek out 'veterans' of mobile payment in one specific region. Therefore if one company is introducing its mobile payments services in Africa it recognises the need to seek out an experienced project manager, product manager or business development manager from this very region. Recruiting someone for a project in Brazil may well demand a candidate with an altogether different cultural approach, skillset and experience of the mobile banking sector.
Recruiting for the developed world is another story altogether. Key to recruitment success in this arena is building a network of recognised industry talent and maintaining contacts within the industry through conferences, meetings and round-table events. Finding that 'specialist' and his or her unique experience in one market for a client is a lot easier when your firm has already developed relationships with key players in the industry. The key to success at Fulcrum is to constantly monitor the industry, taking time out to understand the latest developments and constant networking. It is essential your talent pool does not stagnate. Sacrificing this time may mean one or two fewer clients across your sector portfolio but will allow you to focus on one customer to provide a tailored service. The reward will be in relationship you forge with the client as well as the fee earnt for placing truly exceptional candidates.
Another side to mobile payments, particularly in the established industrialised world is the establishment of micro-payments and 'operator billing'. Good examples of how this is currently in use include customers purchasing mobile games from operators, ringtone purchases and the surprising success of charity text donations. (Comic Relief in the UK achieved remarkable success in this format as did donations for the Haiti disaster.)
The key to recruitment in this sector is once again being armed with industry knowledge and knowing the right people in the industry: Certain private companies and increasingly the banking sector itself. Visa and Barclays (with their recent adverts offering the ability to make transfers and check statements) being prime examples.
Experienced in recruiting in this sector, Fulcrum understands what a client requires from 'that' sales candidate or product manager. Clients, especially in this candidate-driven market, are keen to see people who are not only exceptional sales people but have industry knowledge, having worked for a competitor or partner in the industry. As the number of companies involved in this market in Europe grows, the talent pool widens and deepens. Fulcrum Telecom has witnessed firsthand the ability to source a candidate from one competitor based in France and place them in Germany or the UK. An understanding of this market is not limited between country to country as it can be for 'traditional' mobile banking (see above comments on emerging market recruitment) but allows a freedom of recruitment that provides a refreshing pace and multiple opportunity horizons for successful employees of the sector.
As banks become increasingly involved in the sector it will be up to telecoms recruiters to form a unique relationship with the banks based on this industry alone, offering their specialist experience of the mobile sector so they are not 'left out in the cold' by traditional financial recruiters. With the true uptake of smart phones, and Apple's plans to get involved in the m-payments sector, these are exciting times for anyone involved in the industry. Japan, with its high mobile phone penetration and large population, is a great example of how the developed world can make up ground in this sector. Fulcrum Telecom looks forward to Europe following suit.