Why mobile payments need a rethink
Everyone believes mobile commerce is the next big thing – so why hasn’t it taken off asks Andy Bateman in an opinion piece that first appeared in Encore.
Look around your office – see any smartphones on the desks? How about cash and credit cards? See much of that just laying about? Didn’t think so. While we go to extremes to protect our cash we are a little more cavalier when it comes to our smartphones. We’ll put them down wherever we are. We’ll even leave them on a table while we go to the bar to buy a round of drinks.
This doesn’t mean we’re not attached to our phones – after all they are the only organ that exists outside our bodies. And judging by the people on smartphones on my bus this morning, I’d say we’re about as attached to our smartphones as we are to our clothes. Most of us are lost without them, more or less in constant contact through them, and they’ve become the first place we go when we need, well, whatever.
So why aren’t more people paying for stuff with them?
Dear Andy
I think you have some great points here but the reason why we in Australia arent excatly progressive when it comes to mobile payments is the banks have been innovating at thier own pace, ie when they feel the urge. Thats about to change
The Reserve Bank, the regulaotor for this space, has just released their framwork for Innovation in payments yesterday.
Mobile payments is about to go through huge investment and change. In two years time we will see some genuine change and sexy new offerings that will make mobile payments de rigour
Its about time too!