2008 and the Rise of the Mobile Wallet
June 9th 2008 08:24
It's a popular past-time to make predictions for future mobile trends and there are some pretty good forecasters out there. I have to express my surprise though at the lack of mention of the 'mobile wallet' in most bloggers' predictions.
FierceWireless published a summary yesterday that showed that the value of contactless m-payments in the US is expected to reach $820m by 2013 (according to ABI Research).
I believe that 2009 will see a leap forward in the development of the ‘mobile wallet’ and the launch of new handsets capable of performing the same transactions of a traditional credit card by using contactless NFC technology.This is backed up by ABI Research's latest forecast, where they predict a 10-fold increase in shipments of NFC handsets in 2008.
With operators, regulators, manufacturers and financial institutions having met up in Cairo in May at a GSMA Summit to thrash out a global framework for m-payments, a whole range of new services could become widely available in key markets by 2009.
Operators have too much at stake to ignore this opportunity to impose their own standards for m-payments and thus regain a modicum of control over their customer base in the face of increasingly open development platforms.
The question, however, is this: will a disruptive newcomer step in to offer an alternative should operators and other stakeholders fail to deploy an agreed global model?
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