Mobile Payments Adoption to Follow Evolutionary Path

Google Wallet chief Peter Hazlehurst and other payment executives at CES 2013 believe mobile payments will inevitably catch on with the mainstream, although Hazlehurst stresses that adoption will be an evolutionary process as consumers learn new behaviors. He points out that only recently have large numbers of consumers begun purchasing smartphones with preinstalled mobile wallet software, and forecasts the advent of more seamless transaction completion methods. “You can imagine some really fun new applications—’blink to pay,'” Hazlehurst says, in reference to Google’s forthcoming eyeglasses-like computer, Google Glass. He also cites the Tabbed Out app, which enables users to sign into a bar or restaurant when they arrive and have the establishment charge them when they leave, making waiting for the check unnecessary. MasterCard’s Ed McLaughlin says few people have seen much benefit to mobile payments technology so far, but he agrees that a transition to mobile payments is already underway. Google, MasterCard, and other companies are courting consumers with targeted coupons and loyalty programs, and appeals to the extra security and convenience of loading financial data in the smartphone.

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From “Google Wallet Chief: Why We’re a Long Way From ‘Blink to Pay'”
CNet (01/09/13) Newton, Casey