4allThe year 2012 is coming to an end and in retrospective it can be said that countries without an established e-payment infrastructure take more advantage of mobile payment than others. Thus, unsurprisingly, Asians and Africans are by far the largest users of mPayment, as the so-called mobile wallet is not just the simple transfer of a plastic card function into the phone, but financial management, coupons, loyalty and much more, providing added value to consumers.

Still some hurdles must be overcome until the necessary standardization and a good cooperation between retailers, financial institutions, credit card networks and handset manufacturers is ensured. Only then smooth and ubiquitous retail services can be guaranteed.
Two interesting infographics caught my eye recently, which I would like to share.
The first one is from Statista (www.statista.com), which summarizing some key facts about mobile wallets quite well:




The other one is from G+ (www.gplus.com), presenting how mobile phones are becoming the new credit card:


In case you are interested in Google Wallet and would like to get an explanation in a nutshell, I recommend the following video:

Or watch Google’s product launch and find out what Stephanie Tilenius, VP of Commerce, Google, has in store for Google Wallet in the future:

Well, we all know that haste makes waste and we should expect that even in 2013 not all hurdles will be mastered and the complexity of the mobile payment market will keep providing interesting challenges.

By Daniela La Marca