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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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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

Privacy in Mobile Apps: MEF roundtable in Barcelona

During Mobile World Congress 2012, TheFonecast.com was invited to record a roundtable on Privacy in Mobile Applications. This event was hosted by MEF, the global community for mobile content and commerce, and was supported by SNR Denton.

Our recording is now online at TheFonecast.com and on the MEF blog.

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Last week at The Fonecast: 19th March 2012

Mark Bridge writes:

Mobile financial services were making the headlines yet again last week. Not once. Not twice. No, we noticed at least three separate (and all pretty big) stories to talk about.

First came Nokia’s planned withdrawal from its mobile money service, which will leave around a million people in India looking for a new mobile wallet.

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Apple iPad dictation isn't perfect but customers love it anyway

Mark Bridge writes:

Excuse me a moment while I climb onto my soapbox.

Right. Ooh, it’s busy up here.

For a number of years, various companies have worked on computer-powered dictation and transcription services. Now Apple has entered this space.

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Rebtel: the mobile VoIP rebel that speaks its mind

Mark Bridge writes:

Back in the 1960s, Hertz was the number one hire car company in the USA. Avis was trailing a long way behind. Looking for a new advertising campaign, CEO Robert Townsend spoke to Bill Bernbach - the ‘B’ in ad agency DDB - and a few months later “We try harder” became the Avis tagline.

“Avis is only No.2 in rent a cars” the headlines admitted. “We try harder. When you’re not the biggest, you have to.”

It’s a message I was reminded of when I met Andreas Bernström at Mobile World Congress last month. Andreas is CEO of Rebtel, the world’s second-largest mobile Voice-over-IP company. With Skype seen as market leader for VoIP services, I asked Andreas whether Rebtel also needed to try harder.

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Has Apple messed up the user experience by creating its new iPad?

Mark Bridge writes:

The new iPad has a better screen. Higher-resolution. Clearer. High Definition. Just what everyone wants, right?

Apparently not.

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