2013 not year for mobile wallets in UK

 

Mobile wallet

Last year we heard quite a lot about mobile wallets, what will happen in 2013. As one might expect in the US it is becoming more available and consumers seem to be become more receptive,  more retailers are making the service available.

 

 

In the UK it is a little slower, it is available but only to limited extent. Consumers are still concerned about security, only limited number of phones have capability, and mobile contracts tie you in for up to 2 years. All this means that although mobile wallets will be available to some, for the majority of consumers  it is still a little time away. 

 

However, despite the above consumers are increasing using smartphones and tablets to access to information and buying  products and services on the internet. The impact of this is seen regularly on our TV screen with a number of well known brands going to the wall. So in the longer term I do believe that consumers will embrace the concept of mobile wallets – its a natural progression. If this is to be sooner rather than later the players in the arena such as mobile suppliers, banks, and retailers need to work together. Those slow to embrace the new technology will be left behind and if they are not careful end up on the evening news as another brand or supplier consigned to the history book.

 

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