Smart payments are a dead end

Stefan Mileschin · 16th October 2015, 05:47

While mobile tech companies, including Apple and Samsung, are getting all enthusiastic about mobile payments, they are almost certain to be a dead end.

Market Platform Dynamics Chief Executive Karen Webster told the Code/Mobile conference in California that mobile payments have been slow to catch on with the world’s consumers.

The reason is fairly obvious. They are not solving any real consumer problem. Shoppers don’t have any difficulty pulling a credit card out of their wallets.

Rather, they’re most concerned about whether they’re getting the best deal for the item they’ve just purchased.

Adding technology at this end of the transaction is pointless, she said.

If she is correct then there are a lot of companies and banks which are going to end up with egg all over their face. They have effectively conspired to bring in tech that no one really needs to and requires a lot of up-front investment.

http://www.techeye.net/business/smar...are-a-dead-end

16th October 2015, 05:47	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,500	Smart payments are a dead end While mobile tech companies, including Apple and Samsung, are getting all enthusiastic about mobile payments, they are almost certain to be a dead end. Market Platform Dynamics Chief Executive Karen Webster told the Code/Mobile conference in California that mobile payments have been slow to catch on with the world’s consumers. The reason is fairly obvious. They are not solving any real consumer problem. Shoppers don’t have any difficulty pulling a credit card out of their wallets. Rather, they’re most concerned about whether they’re getting the best deal for the item they’ve just purchased. Adding technology at this end of the transaction is pointless, she said. If she is correct then there are a lot of companies and banks which are going to end up with egg all over their face. They have effectively conspired to bring in tech that no one really needs to and requires a lot of up-front investment. http://www.techeye.net/business/smar...are-a-dead-end

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