Getting the Garden Ready: First Data and Mobile Payments at the Point of Sale
"While the list of start-ups focused on mobile payments for digital content, eCommerce physical goods and/or person-to-person transfers continues to grow, another part of the industry is biding its time, with an eye on what may be a much larger prize.
What’s at stake are point-of-sale, in-person payments – what Glenbrook estimates to be roughly $4 trillion and 107 billion payments each year in the U.S. market. Some of these today are done by card; some by cash and check. All are targets for the companies looking at using the phone to make those payments."
Mobile Payments Are Taking Off. But Which One to Use?
"Mobile payments system Boku just announced that it will work with a bevy of social networks and gaming sites. But competitor Zong, was recently chosen to pilot Facebook's virtual currency, called Credits. Both sites will face considerable opposition from Obopay, a seasoned startup that recently earned the backing of mobile phone giant Nokia for its Nokia Money payment system. Mobile payments are convenient, fast and easy--but which service should you use?"
M-Commerce Is Still in Its Infancy
"More than 70 million US mobile phone users will access the Internet from their device in 2009, eMarketer forecasts. And a number of recognized retail brands have launched mobile commerce programs so they can be where their customers go.
Nevertheless, mobile commerce is still immature. Web-enabled mobile phone users are much more likely to employ their devices to get weather forecasts, read news, find movie times and bank online than to buy products."
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