Professor Fraser pointed to the fact that market analysis has found that the rise of mobile commerce as a driver of the global and digital economy had been spectacular, with 1.2 billion mobile broadband subscriptions and over US$6.3 billion invested in 2011 alone.
CLC Director Professor Michael Fraser said the partnership would support timely and important research. "Technology is now moving so fast that government legislation and market regulation of the m-commerce industries are effectively some 10 to 15 years behind the market," he said.
Professor Fraser said the UTS-Leadbolt research partnership would research the existing framework for the mobile commerce industry in Australia and internationally with the objective of creating 'industry standards, codes of conduct and the development of best practice legislation and market regulation,' with special focus to be given to the 'development of consumer rights and protection strategies.'
Leadbolt CEO, Dale Carr, said that Leadbolt - founded in Australia and now operating in the United States - sought out the UTS partnership after the company's executives identified the 'sheer impact m-commerce has on society and realised that consumers, m-commerce businesses and government would not reap the benefits of the industry without urgent work on specific legislation and the regulatory framework to ensure its viable long term future.'
"When you consider that 83 per cent of Australians use their mobile phones for activities other than voice calls or SMS, or that 500 million people will use their mobiles to purchase metro or bus tickets by 2015, you realise the incredible reach of m-commerce."
Professor Fraser said the research would be conducted by UTS academics attached to the CLC and industry participants. "We are looking forward to developing market and regulatory platforms that protect consumers and allow the m-commerce industry to constantly improve the consumer's understanding of and trust in new technologies."