12 Apr '13, 9am

Why I'm not buying into the mobile wallet hype

Why I'm not buying into the mobile wallet hype

Why I’m not buying into the mobile wallet hype April 12, 2013 by Terence LEE SingTel’s mWallet: Hype or substance? There’s a lot of noise recently about the wonders of mobile money and how smartphones will bring about a dawn of the cashless society. Google Wallet has been at the forefront of this push in the United States, and here in Singapore, SingTel’s recently launched mCash is touted as a reinvention of money. Facetious claim indeed, considering how credit cards and cash are still how people prefer to pay — even online. But a lot of resources have been pumped into making mobile wallets work. The NFC Forum has the backing of some of the world’s top technology companies, and it’s quite possible that the technology will become ubiquitous in smartphones. The Singapore government has also thrown its weight behind NFC, and it is working with SingTel and other telcos to enab...

Full article: http://sgentrepreneurs.com/2013/04/12/why-im-not-buying-i...

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