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Sunday, May 22, 2011

It's not a mobile wallet. It's just a phone.

Mark Bridge writes:

Don’t get me wrong. I’m excited about the idea of mobile payments (despite the occasional appearance to the contrary). But I think the Quick Tap launch and all this talk of a ‘mobile wallet’ is a little overhyped. And here are the three main reasons why:

1. Contactless payments have been in the UK for almost four years. This is just another type of contactless card.

2. Mobile payments have - in various forms - been with us for well over a decade. This is just another mobile payment mechanism.

3. There’s no app on your smartphone that’ll hold a condom, a couple of first-class stamps and a book of matches.

All this suggests the mobile wallet isn’t going to replace the wallet-wallet for a while.

Until buses all take mobile payments, gym lockers all take mobile payments and parking meters all take mobile payments, you'll still need cash.

Until every retailer has an NFC card reader - payWave, PayPass and the like - you'll still need conventional credit and debit cards.

And until contactless payment technology is perfect... and your phone becomes invulnerable to physical damage... you'll want some kind of back-up.

However, it’s not all bad. Leaving aside the vast number of Quick Tap Toccos that’ll be sold to curious people within the mobile industry, mobile payments are likely to become another string to your smartphone’s bow.

In the same way that my phone offers a camera if I haven’t got a ‘proper’ camera with me and a video player if I don’t need a big screen, it’ll provide a useful backup if I forget my real wallet. One day it may even replace cash payments. But the end of cash?  Not for a long while.

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Author: The Fonecast
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1 comments on article "It's not a mobile wallet. It's just a phone."

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James Rosewell

5/23/2011 3:46 PM

Surely anyone carrying a Quick Tap phone will not be considered attractive enough by the opposite sex to need condoms? That just leaves the matches and the stamps.

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Opinion Articles

Admit your mobile phone mistakes... and pay for them

Mark Bridge writes:

“Take some responsibility for your own actions”. There’s probably not a parent in the world who hasn’t said or thought something similar. But that’s not the message coming from regulators in the USA.

We’ve laughed in the past about coffee cups from the United States that warn about the coffee they contain. Now there seems to be a similar movement against mobile phones that connect to the internet.

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Apple's HTC patent suit could be another reason for someone to buy Palm

This is a guest post from BusinessInsider.com written by Gregor Schauer, who has worked in tech in Silicon Valley since 2000. Gregor has also recently spent two years in equity research at JMP Securities and Jefferies, covering the internet sector and enterprise software.

Author: The Fonecast
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Mobile business applications: the next frontier

Anthony Keyworth, Orange UK’s Director of Product Marketing, has been gazing into his crystal ball to predict which business-focussed mobile applications could change the ways we work in the next five years.

His top four future developments, published under the heading “The next frontier for mobile business applications”, are:

Author: The Fonecast
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It’s all been done before

Mark Bridge writes:

No-one really likes an anticlimax. That was my biggest complaint about the launch of Microsoft’s Windows Phone 7. Plenty of potential, a nice new interface – but nothing much that wasn’t being done elsewhere.

Author: The Fonecast
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The Day the Multi-Touch Died?

Mark Bridge writes:

It’s not just me, is it?  The mobile industry really has gone a bit litigation crazy.

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