Joe Keyter Joe Keyter

This scenario looks like the forerunner of the death of cash. Next step is to allow these devices to transfer $10 from my handset to yours. Who will need cash then. All will become e-money. No more bills or coins? What will then prevent a global e-curency to overtake local ones? And if it is succesful on what foundation will it rest - another real currency or gold or who will control it. how will this impact the economy as a whole? more questions than answers it seems, but the start of a new revolution for sure.
Posted: 12 September 2003 at 13:47

Wolfgang Grulke RE: Joe Keyter

See the 2005 comment in the timeline above: e-Dollar and e-Euro launched. I belive it needs some big players to take the first step to your scenario.
Posted: 23 September 2003 at 18:12

Doug Vining PayPal by SMS

PayPal already lets me send you 10$ by e-mail. SmartPhones handle e-mail. So sending money by phone is one step away...Vodabank Interactive anyone?
Posted: 12 September 2003 at 15:42

Wolfgang Grulke RE: PayPal by SMS

I understand that PayPal uses the MC/Visa infrastructure - is that correct?
Posted: 23 September 2003 at 18:13

Jay van Zyl Jay van Zyl

If we had to look at this scenario from a different perspective - VISA and Mastercard have some of the widest money networks available today. Banks around the world operate in isolation and silos and only a very few are global. So, the key questions arise:
- Would I create a credit card like SIM card for a phone and displace the telco's,
- As a consumer, why would I use my current account, or any other facility for that matter if I can use a readily available, globally accessed money network,
- Telco related orgs, I guess like Intel, might become the "Nokia Inside" or "Erricson Inside" scenario if the "access to money networks" become more dominant,
- Risk, is what might create a major obstacle for mobile providers - not understanding credit. To get credit on a phone is more cumbersome than getting access to a credit card.

Just some thoughts for now...
Posted: 12 September 2003 at 09:25

Wolfgang Grulke RE: Jay van Zyl

The big difference is that it costs about US$1 to process each and every credit card transaction vs an estimate of less than 5-10 cents for one on a mobile phone. There are also almost 4 x the number of mobile phone users vs credit card users. With such market numbers and lower costs how can the established network brands cut it in the future?
Posted: 23 September 2003 at 18:11

Neil Jacobsohn Mobile payments move to the fore

Who will win the war for payments? The Big Banks, hated by customers and regulators alike? Or new players in the market, rolling out new services that are aimed at customer efficiency and friendliness, instead of maximizing profits?
A FuturesForum post (titled: "Mobile payments move to the fore") refers to this MindBullet. The full FuturesForum post can be read here:
Posted: 13 May 2012 at 10:24

Anton Musgrave Mobile payments battle is hotting up!

We all know about it, we read about it...the question is who will win market acceptance and gain critical mass first? I like the thrust of this article as it acknowledges that it is not about the technology - that's a given - it's about the customer experience! I wish my bank, mobile phone company, local hospital, government, insurance company etc. etc.. would understand that!
A FuturesForum post (titled: "Mobile payments battle is hotting up!") refers to this MindBullet. The full FuturesForum post can be read here:
Posted: 14 August 2012 at 17:31
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