The total value of mobile payments of all types worldwide will surge from $240 billion this year to $670 billion by 2015, Juniper Research predicts. This covers mobile payments for digital and physical goods, money transfers and near field communications transactions. NFC is the mobile payment technology used in the Google E-Wallet; Apple is reportedly planning to include NFC capability in iOS 5. The m-payment surge will be powered by the rapid adoption of mobile ticketing, NFC contactless payments, m-payments for purchases of physical goods and money transfers, according to Juniper.
I think that many companies have caught on to the fact that NCF purchases are a cleaver way to increase sales. In the past, charging something to your credit card was a way to buy something without "feeling it". Now, companies want to take the idea to the next level. I recently saw a company called GETONIC (www.getonic.com) that allows people with digital goods (music, wallpaper, ringtones, etc.) to sell their digital goods directly to customers and have the customers pay for them via their cellphone.
Let me explain. Loyalty cards suck because every merchant offers one, therefore I have a wallet full of them. If there were one loyalty card the problem would be solved. Let's fast forward since physical loyalty cards will be obsolete in 2 years. The physical card will be replaced by apps, i.e. Starbucks. They have loyalty integration. What we don't need is every business out there having a different app for payment. This is a fragmented m-payments system. I don't want to fish through hundreds of apps to find the one specific to the store I'm in. If this were all done in a single app I could have all my loyalty in a single location. The only company I know of so far even attempting such a system is MobilePay USA. The monetary system is rapidly changing and I'm along for the ride. Goodbye Castanza wallet.
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Appetite for Digital Goods Pushing Mobile Payments Skyward
Posted by: Richard Adhikari July 5, 2011 12:14 PMThe total value of mobile payments of all types worldwide will surge from $240 billion this year to $670 billion by 2015, Juniper Research predicts. This covers mobile payments for digital and physical goods, money transfers and near field communications transactions. NFC is the mobile payment technology used in the Google E-Wallet; Apple is reportedly planning to include NFC capability in iOS 5. The m-payment surge will be powered by the rapid adoption of mobile ticketing, NFC contactless payments, m-payments for purchases of physical goods and money transfers, according to Juniper.