OTOH: On the other hand

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Pay-by-mobile ahoy, say Forrester and ABI

OTOH: Wave your phone to empty bank, RSN

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By (@richi ).

Two research reports say that mobile payments will be commonplace in the UK in the next few years. The Forrester/PayPal study says 2016, but Allied Business Intelligence says the tipping point could come even earlier -- 2014.

  • On the one hand, I for one welcome our new payment-technology overlords.
  • On The Other Hand, people in Finland, Japan and the Philippines have had m-commerce since the late-90s.

Plus, today's skateboarding duck: The Stackinator...

Kenny Campbell's faceless minions report:
PayPal pinpointed 2016 as the year of the ‘digital switchover’ on the high street. ... [M]ajor retailers and businesses were interviewed in the survey conducted by Forrester Consulting.
Nine out of ten believed these payments will be accepted within four years, while half...believed the development could happen in three years. ... Earlier this year, Barclaycard and Orange launched the Quick Tap mobile service in more than 50,000 shops for purchases of £15 or less. more.png

Bill Ray adds another survey:
[O]ver at ABI they're saying 2014 will see Google Wallet filling virtual pockets. ... [The] prediction comes from its "Mobile Wallet Strategies" advice...on how to cope with the forthcoming change to our pockets' change.
The 2016 start date should give companies time to embrace Near-Field Communications (NFC)...without involving the cloud. Google Wallet, meanwhile, is already in use...and ABI predicts that Apple will enter the game next year. ... ABI reckons that's very bad news for the network operators, who still want ownership of the electronic wallet. more.png

Matt Warman has background:
Other incentives for customers to pay by mobile include location-based offers, digital loyalty cards and apps. PizzaExpress recently...allow[ed] users to pay their bill via their mobile, and Starbucks...announced a UK app that allows users to scan a code corresponding to their account and choice of drink.
PayPal said it expects to process more than $3.5 billion in mobile payment volume in 2011 - five times the volume...in 2010. By 2016, UK mobile retail sales will hit £2.5 billion...as just over 14 million adults will regularly shop via their mobiles. more.png

But Adam Smith institutes some rational thinking:
[C]ash, cards and cheques will be around a long time after [2016].
There are still plenty of older folks who write cheques...cash and cards are likely to be far more persistent payment mediums into the future. There are still plenty of businesses out there which operate on a cash-only basis, or mostly cash. more.png

And Chris Dawson agrees, but still can't wait for this brave new world:
Mind you there’s still a long way to go. The coffee shop I visited today...don’t even take cards. ... [Y]ou have to wonder how they’ll cope with accepting...mobile phone payments. There’s also the tricky problem of security tags and the...security guard accosting you at the door because he didn’t see you pay.
However those problems aside I’d love to go shopping for Christmas presents and just scan and pay...on my mobile and have them automatically delivered...shopping with no bags to carry has its attractions. more.png

Today's Skateboarding Duck...

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Richi JenningsRichi Jennings is an independent analyst/consultant, specializing in blogging, email, and security. His writing has previously won American Society of Business Publication Editors and Jesse H. Neal awards. A cross-functional IT geek since 1985, you can also read Richi's full profile and disclosure of his industry affiliations.

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