18 March 2018

Money in my mobile

26 March 2002  |  1894 views  |  0 mobile

Nearly half of mobile users globally would like to use their phones to pay for small cash transactions such as bus, taxi or train fares or items from vending machines, according to the fourth A.T. Kearney - Cambridge Business School mobile commerce study.

The twice-annual Mobinet study reveals intent to use m-cash is highest in Japan at 50 per cent, 46 per cent in Europe, 43 per cent in the rest of Asia and 38 per cent in the US. However, only two percent of mobile phone users worldwide report any experience of m-cash, as the technology to perform such transactions is still in its infancy.
Paul Collins, AT Kearney principal and leader of the study, cautions: “Consumer tastes in the mobile arena are fragile, so it is imperative that the community of mobile phone makers, carriers, content providers and financial services companies rally quickly to provide mobile cash capabilities before consumer interest wanes.”

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