Friday, February 11, 2011
The closest thing I'd seen to this before is the Octopus card in Hong Kong which allows you to board the train and make purchases from a lot of stores. The Octopus card is an extra card you have to carry though, using your mobile phone which you have with you anyway is an extra step of convenience.
recent reports suggest the iPhone 5 will as well. No doubt we can expect that Apple and Google will shortly be moving in on this market. Given their high market share of devices in countries like Australia and the US there is huge potential to role a payment system like this out and take a small percentage fee on all these transactions.
Posted by Michael Fox at 10:57 AM