Smart payments are a dead end

Stefan Mileschin · 16th October 2015, 06:47

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, 06:47	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,514	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

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
IT glitch sees 600,000 RBS payments go missing	Stefan Mileschin	WebNews	0	18th June 2015 09:00
Mobile payments set to bloom	Stefan Mileschin	WebNews	0	15th May 2015 14:51
PayPal's new Here card reader can handle NFC payments	Stefan Mileschin	WebNews	0	3rd March 2015 09:47
LG's premium smartwatch now comes with LTE and mobile payments	Stefan Mileschin	WebNews	0	26th February 2015 07:23
The NSA Spies on International Payments	Stefan Mileschin	WebNews	0	17th September 2013 08:06
Samsung demos Smart Scroll, Smart Pause and Air Gesture on Galaxy S 4	Stefan Mileschin	WebNews	0	15th March 2013 08:36
PayPal mobile payments hit the UK	Stefan Mileschin	WebNews	0	31st May 2012 09:44
In USA Bloggers must disclose payments for reviews	jmke	WebNews	0	5th October 2009 19:27
At last, smart filtering technology that works dead	Sidney	WebNews	1	13th October 2004 14:28