Showing posts with label obopay. Show all posts
Showing posts with label obopay. Show all posts

Monday, November 30, 2009

Mobile payments part 2 - a tale of princes, laws and treasures

In the previous post we've looked at mobile payments in a glance, why there's a huge chance today and what are the biggest challenges. In this post I will start diving deeper into them, and suggest a few ideas.





There's a group of very talented guys I know, who used to work at this IT Company in Israel that was a part of the mobile industry. They basically made some peripherals, a few applications and other mobile related products. One of these products was a relay to transfer contacts from one cell phone to another, in case the owner wanted to upgrade or downgrade (yes, there are people who do not have smart phones and Outlook sync). When, at some point, they started their own company to manufacture and sell a similar relay, they found a very interesting (well, in a sense) thing: a huge chunk of their dev and QA time was not spent on improving the product; instead, it was spent on porting - making sure that the software matched all cell phones out there.

This is the time when industry experts read and think: "what else is new?" (And also: “we don’t have this problem now with the iPhone!” Yes, you do. But that’s for the next post).

Saturday, November 21, 2009

Why you should love (and fear) mobile payments [part 1]

A month and a half ago I discussed the mobile payments opportunity in India, a country where the mobile phone is often the consumer's sole financial entity (no banks, credit cards or anything else but cash). Boku's press release is a good opportunity to take a closer look at the US mobile payments market (see a previous post), and tell you why I think that it has great potential, but should also look out for a few obvious challenges.




You're all busy people, so I'll save you the time reading through my first paragraph and give you the bottom line: mobile payments are here, are growing, and have the potential to kill all other payment services. BUT it won't happen the way you'd imagine, and there are many pitfalls along the way, yet there are many chances for success.

Phew! Now that I got this off my chest, I can start explaining.