Mobile Payments Gain Energy

What you are seeing in the US is something that we saw in Europe five years ago.  We are going to see a number of services that are extensions of banking services and then others that are payments based.When you look at payments where we are currently seeing success is in the expansion of banking rather than a substitution of credit cards. The rules for Money Laundering make mass adoption of...

* 10 elements, including mobile Internet, GPS, and mobile payment security, are considered relative to their impact on mobile commerce* As these elements speed up, enhanced by strong brand buy-in (Paypal, Visa, Mastercard, Apple), the tipping point to consumer adoption will likely take place in 2009 or 2010

1. Timely article.2. Highlights the U.S. while Japan, S. Korea, HK, Singapore, other parts of Asia Pacific, and W. Europe are already a few years ahead in implementation and consumer attitude.

This article greatly underestimates 3 key factors in the adoption of a mobile payment market1.  The expense of consumer education and trust.  It will cost an enormous amount of money to get this market not only interested, but educated on the experience2.  Not all technology is created equally.  I don't see a trend in here that suggests any of these pilot programs are gauging what...

Technology has advanced to the point where use of the mobile phone as a vehicle for payments has become economically and operationally feasibleHowever, the extent and speed with which mobile payments develop in the U.S. (in contrast for example to Japan, where cash still plays a much more important role than credit or debit cards for all types of payments) will depend upon their interaction with human...

  For mobile phones to become “mobile wallets”, an initial compelling application is needed that tests the technology options:    1. Over-the-air (OTA) using the network,    2. Building a debit/credit card into the handset,    3. Contactless payments,    4. Near-field communications (NFC),    5....