Ted Bissell, PA mobile business expert, is quoted in the Financial Times The Connected Business report. The article looks at the various advances of mobile phones and how technologists are looking to develop them into cashless payment solutions.
Commenting on the growth of mobile payment, Ted comments: “It is still early days, and the lack of services using existing standards is making mobile payments relatively slow to take off.”
Ted goes on to express his concerns over industry practices not yet being established: “The operators are still bickering about who will control the mobile wallet.”
Ted continues: “Many customers may not want to be ‘locked in’ to one company or consortium. Legislators are looking at it, to the discomfort of participants such as mobile operators.”
Ted’s final point addresses M-PESA which has already been implemented in Kenya and Tanzania: Some 80 per cent of the population adopted M-PESA within five years of launch, and similar uptake is expected in Bangladesh, Pakistan and South America.”
You can read the article in full here.
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