mPayments Could Make Wallets Obsolete
Forgot your wallet? It soon may be a non-issue in regard to payments, according to a recent commentary from the San Francisco Chronicle.
Dot.Commentary author James Temple recently tested the iPhone’s Card Case app and detailed the experience of walking into a coffee shop without having to pull out his wallet or phone.
“Done right, mobile payments can accelerate the monetary exchange, while streamlining the issuance, acceptance and storage of receipts, coupons and loyalty cards,” said Temple. “Down the road – once consumer and retail use reaches critical mass – the hope is that people will be able to leave their wallets at home altogether.”
However, Temple acknowledges the challenges in getting consumers on board with the notion of mobile payments. He notes: “Customers won’t start using mobile payments in great numbers until they’re accepted in great numbers.”
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From the perspective of an Industry Professional, I am 100% on board with providing a new and exciting payment methods that could breath new life in to our space.
However, speaking from a Consumer's point of view, who just last week had a mishap with my personal phone that has yet been replaced by the Carrier-endorsed Insurance provider, it scares me to death to think about being solely reliant upon my phone for my day-to-day spending. Not only would I be concerned about breaking the device, but also constantly worried about the phone being hacked.
I am sure there are probable solutions to my concerns out there, but I know this will be the largest hurdle when trying to gain Consumer adoption.
Just my two cents.
Dustin Poole
Posted by Dustin Poole, 04/04/2012 12:52pm (1 month ago)
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