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Mobile Payments At A Crossroads: What's Taking So Long?

Once we start to head out the door, the internal checklist usually begins: Car keys? Check. Phone? Yep. Purse? Backpack? Got it.Wallet? Well, perhaps not…The reason you may soon leave your wallet behind is because your smartphone will take its place and become the repository for credit cards, coupons, loyalty cards—and cash. However, before that can happen, a mobile payment standard has to be agreed upon by a range of interests, and then adopted. Part of the adoption complexity is due to the fact that mobile payments offer a substantial reward, to both customers and companies, depending on which technology becomes the standard.

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