Gigaom Pro has a post about what’s not going to happen in the mobile space in 2011. One of the things they predict not to happen is the mass adoption of the mobile wallet. I have been following mobile payment for a long time and though there have been many new announcements of trials this year I agree with the poster’s points.
- It costs money to make devices with contactless payment technology
- It costs retailer money to install contactless payment readers
- Consumers don’t want to pay a premium for contactless payments because there is no clear value proposition
Sounds right to me. Until there is a valid reason for mobile payments none of the players involved are going to want to pay the cost of entry.