[OPLIN 4cast] OPLIN 4Cast #279: Mobile money

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OPLIN 4Cast

OPLIN 4Cast #279: Mobile money
April 25th, 2012

<http://www.oplin.org/4cast/wp-content/uploads/2012/04/mobile-payments-sm.png>It's 
been more than a year since we took a look 
<http://www.oplin.org/4cast/index.php/?p=1627> at the technologies 
behind making payments (such as library fines?) from mobile phones. 
Meanwhile, Near Field Communication (NFC), one of the technologies we 
described, is becoming a standard feature of many new smartphones, and 
mobile payments look like they're poised to become very common. The Pew 
Internet & American Life Project just released a report on The Future of 
Money in a Mobile Age 
<http://pewinternet.org/Reports/2012/Future-of-Money/Overview.aspx>, 
which has prompted a spate of recent articles and varying opinions about 
mobile payments.

    * What is the future of mobile money?
      <http://www.readwriteweb.com/archives/examining_the_future_of_mobile_money_part_1.php>
      (ReadWriteWeb/Dan Rowinski) "...real, noticeable change of user
      behavior is between two and three years away. That is the time it
      will take to separate all of the options that are emerging for
      mobile payments and determine which dominant systems will emerge."
    * Paying with smartphones to outpace credit cards by 2020, experts
      say
      <http://www.pcworld.com/businesscenter/article/253938/paying_with_smartphones_to_outpace_credit_cards_by_2020_experts_say.html>
      (IDG News/Cameron Scott) "But there's little doubt, according to
      Chris Silva, an analyst with Altimeter Group, that 'NFC is going
      to play a much more prominent role, a major role in m-commerce,'
      or mobile commerce. Google Wallet already employs NFC technology."
    * Mobile payments won't replace cash or credit for another decade
      <http://allthingsd.com/20120417/mobile-payments-wont-replace-cash-or-credit-for-another-decade/>
      (AllThingsD/Tricia Duryee) "It's unclear whether the 2020 date is
      optimistic or seems too far out given that so many companies are
      investing aggressively today. PayPal and Google are the two most
      notable technology companies going after the opportunity, but so
      are the incumbents, including Visa, MasterCard and American Express."
    * Mobile payments may replace cash, credit cards by 2020
      <http://mashable.com/2012/04/17/mobile-payments-2020/>
      (Mashable/Samantha Murphy) "'The 2020 date might be a bit
      optimistic, but I'm sure that this will happen,' said study
      participant Hal Varian, chief economist at Google. 'What is in
      your wallet now? Identification, payment and personal items. All
      this will easily fit in your mobile device and will inevitably do
      so.'"

*/Contrary fact:/*

Don't switch your circulation desk to all mobile payments just yet. 
Another Pew study 
<http://pewinternet.org/Reports/2012/Digital-differences.aspx> released 
just a few days ahead of the mobile money survey found that since 2005, 
the percentage of U.S. adults who do not use the Internet has stayed 
stable at about 20-25%. They'll probably be paying their fines in cash.
------------------------------------------------------------------------
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