A method and system for managing mobile exchange of profile information between a requestor and a recipient. A mobile client is provided on a requestor's first mobile device. The requestor provides requestor profile to an information exchange server through the mobile client. The requestor requests for a connection with the recipient using the mobile client. The mobile client is provided on a recipient's second mobile device. The recipient provides recipient profile to the information exchange server through the mobile client. On acceptance of the request for connection by the recipient, the information exchange server transfers the recipient profile to the mobile client on the requestor's first mobile device and vice versa. The mobile client automatically updates the transferred recipient profile on the requestor's first mobile device based on changes made by the recipient to the recipient profile and vice versa.