No mobile wallet in 2011

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.

About Daniel Davenport

Daniel is a digital media executive with internet and broadcast experience. Daniel is currently the executive strategy director at THINK Interactive.

Trackbacks/Pingbacks

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  3. The problem with NFC and mobile wallets | thinkd2c - March 16, 2011

    […] bit of push back to the recent hype around NFC mobile payment solutions.  When I wrote the “No mobile wallet in 2011” post back in December I highlighted several key issues, the main one being point of sale […]

  4. Engadget’s NFC primer | thinkd2c - June 10, 2011

    […] about NFC for a very long time.  I jumped on a Gigaom post that included the prediction: “No mobile wallet in 2011.”  Of course as it turns out this year is a watershed year for the mobile wallet due to so […]

  5. Google Wallet and the future of money | thinkd2c - September 20, 2011

    […] and Mastercard announced their new initiatives and now Google rolls out the Wallet. Clearly 2011 is not the year of the mobile […]

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