Are we getting closer to mobile wallets?

Mobile Wallet

 

This is currently one of the talked about topics in the mobile world, I mention previously how all the mobiles carriers will be coming out with their version of the mobile wallet. But there are several parties that need to come together to make this work. These are the mobile users, retailers, credit card companies and of course mobile phone carriers.

Statistics on consumers show that they are yet to be convinced to move to mobile wallets. The other parties are interested, they are all like the wildibeasts wanting to cross the river full of crocodiles – hestitant to jump first. They all see the potential, and there are some brave souls. Orange/ Barclaycard, O2 in UK, Google/Mastercard in US, and a proposed UK joint venture group of three mobile suppliers. However, there are lots of details to be ironed out before the mobile wallet becomes a reality.

It will take time, consumers need educating and reassured about card security, retailers need to see there is a consumers demand, the card companies and the mobile carriers have to agree on the transaction payments. Then the mobile wallet will be a reality and something we will all use on a daily basis.

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