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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

iPhone users are optimists while BlackBerry users are pessimists... apparently

Mark Bridge writes:

At the end of our weekly podcast covering the latest mobile industry news, we usually finish with an “And finally...” report. Something that’s lighter that the rest of the headlines. You know the kind of thing; kittens using mobile phones, puppy-powered mobile phone chargers...

Author: The Fonecast
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Indian mobile phone app aims to thwart sexual assaults

Kurt Achin of voanews.com writes:

In India's burgeoning economy, more and more women are going to work in offices - exposing them to what can sometimes be dangerous urban conditions. Now, a new technological initiative aims to protect women against sexual assault.

Author: The Fonecast
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Promote your business at Mobile World Congress with The Fonecast

Mark Bridge writes:

Another year, another Mobile World Congress!

It’s something of a cliché to talk about the months flying by, how it seems like yesterday when everyone in Barcelona had a Nokia handset and the dancers on the CBOSS stand were all wearing full-length evening dresses. Yet it’s also true. Except for that part about the dancers, anyway.

Here at TheFonecast.com we’ve had a busy 12 months that have seen us talking to more and more people, gaining a much larger audience and watching the mobile industry grow dramatically.

Author: The Fonecast
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Will the CES trend for larger screens lead to poorer mobile web sites?

James Rosewell writes:

This year’s CES event in Las Vegas promises to be the biggest yet. There’ll be mobile phones, there’ll be tablets, there’ll be gaming devices, there’ll be sat nav – and there’ll be many other products that now include their own mobile data connection.

When you’ve got mobile data, it’s usually an obvious step to add a browser... and before you know it, consumers are browsing the internet from a device that was never really intended to visit conventional web sites.

Author: The Fonecast
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Carnival of the Mobilists #256

Mark Bridge writes:

Happy New Year and welcome to the travelling circus better known as the Carnival of the Mobilists. If you’re looking for the best mobile-related blog posts from the past couple of weeks, you’ve come to the right place. (If you’re wondering about the name of Beyonce’s baby, you need to try somewhere else).

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