The UK's leading mobile operators are to establish a stand-alone joint venture with the aim of encouraging mass-market adoption of mobile marketing and payment services.
MESSAGE TO FINEXTRA
Not for the first time I note your staffers are relying on spell check when making comments. Really - the stakes are hire?
Oops, embarassing boo-boo fixed. In mitigation, almost the entire Finextra team de-camped to Madrid for the week for EBAday, leaving yours truly to handle the rest of the world. I'm booking myself into rehab this weekend.
Many of them begin with grand plans of setting up a parallel payment network, only to realize, like ISIS did, that it's not easy to disintermediate the 50-year old big card networks. Then, they dilute their offering to mWallets. Maybe I'm missing something
here, but does it really take the likes of Google and MNOs to develop mWallets? A startup like Keyring could do it long ago for loyalty cards, it can't be so difficult to make the same app support credit/debit/prepaid cards?
@Keith R: Not that he needs it, but in further mitigation of Paul P, I doubt if any spell checker would've spotted this error since both 'hire' and 'higher' are dictionary words!
You miss the most important stakeholder of course: the consumer! Time will tell whether he is sufficiently interested in this new JV in order to have a viable business case
How does the saying go... past performance is no guarantee of future results! At some point the stars will align and the time will be right, but technology is not the issue here, its politics and inertia. If its simple and quick it might get the momentum
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