Mobile phones bring the cashless society closer

The mobile wallet is becoming more of a reality day by day. Orange have launched their product, O2 will soon follow, and Google announced their android model for US market. It is only a matter of time before its in Europe.

So where does this leave the man in the street, initially we have to go for a new mobile with the appropriate chip so this will cost us more. But I sure in time these costs will come down and all mobiles will have the option. The question will we take up this new technology? What factors will dictate the speed of uptake.

Clearly, cost is a factor, availability at retailers another, but as most retailers prefer a cashless transaction for speed and convenience, they will probably make this happen. The young customer will quickly pick this up as they seem to have a mobile attached at birth. Us oldies will take a little longer! Also security is always a concern, I am sure this is well addressed, but the oldies like me need a little convincing all is ok on this.

How will the mobile phone companies manage the increase volume of enquiries – their track record is not great on this if you read Ofcom reports. But the era of the mobile wallet is with us the only question is how fast will it be taken up.

http://t.co/6FG9J0s via @guardian

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