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Mr. Hartley is absolutely spot on about the need for consumers to store "value" of many types in a safe repository and this represents an excellent opportunity for banks.  Sadly, over the last 5 years, banks , especially the mega-banks, have so severely damaged their reputation as trusted financial intermediaries, that it would be the rare consumer who would entrust this data to these casino-like organizations masquerading as government-insured financial institutions.    

I'm trying to figure out how a sampling of 1,024 consumers is statistically significant to represent the consumer sentiment in a country of close to 23 million people. For the prognostication of the research to be even half-way believable, it would need to address the willingness of the country to move drivers licenses, ID cards and other usual components of leather wallets onto mobile handsets as well.

What colossal hubris.  MasterCard releasing a study of consumer views on interchange fees is like Dracula releasing a study on people's views on vampires.  Jim Wells

Fantastic news for the US prepaid card market as big banks like Chase don't understand the potential power of the product or the needs, wants and behaviors of users.  Jim Wells

Great idea targeting a huge opportunity. But, stupid to pit the new program against check cashers when hundreds of thousands of disillusioned depositors are leaving the banking industry every year. Many of these consumers are already adopting prepaid cards with mobile functionality and using check cashers for convenient, face-to-face service. -- Jim Wells

Good observations, but the author omitted one of the most significant themes -- that the terms "Un-banked" and "Under-banked" are misnomers because they are essentially meaningless to the population being described.  Lisa McFarland, Visa's head of prepaid products said, "We have to recognize that the terms unbanked and under-banked don't work. . .  hese consumers do not view themselves this way."   Jim Wells, prsident, Wellspring Consulting International, USA   

And some day, people may well live on the moon.  However, a business case built on either eventuality would seem foolish. Cash, currency and payment cards will continue to dominate in-person consumer payments for the foreseeable future.  At the end of the day, how difficult is it to put your hand in your pocket?? 

Perhaps this story should be filed under the heading of 'Slow Learner.' Hopefully this action will finally kill the concept of implementing a $1 coin that so closely resembles a 25-cent piece in size and appearance that consumers hesitate to use it for fear of making a 75-cent error.  The just-discontinued presidential $1 coins follow 2 previous, spectacular failures -- the Susan B. Anthony and Sacajawea coins.