Mobile Payment Numbers Are Useless

mobilepayDevice shouldn’t be the only factor determining what constitutes a mobile payment. Location matters. As long as the numbers being reported include home-based, web-based purchases, I remain skeptical that mobile payment statistics really capture the shift in behavior.

Coin And The TechCrunch Effect

20131126 coinCoin’s initial “success” has little to do with rational, logical reasons like solving a “problem,” referral fees, or appealing to early adopters with a blend of “old” and “new.” Coin’s initial “success” is due to the TechCrunch Effect. That’s it, folks. The one — and only — reason for Coin’s “success” was coverage on TechCrunch.

Merchant’s Mobile Wallet Math

To drive awareness and adoption of a mobile payments apps, merchants will need to run some kind of advertising campaign. But when I do the math, merchants could cut the transaction costs by a little more than half, or end up paying nearly seven times more than they do today.

Mobile Bill Pay Realities

billpaySAP released the results of a global survey it conducted which found that: “Half of the respondents surveyed turn to their devices to pay a bill (55%), make a bank transfer (52%) and set up a new account (48%).” The mobile bill pay reality — in the US, at least — is that nowhere near half of consumers are using a mobile device to pay their monthly bills.

The End Of Monthly Bills

The typical American household receives about 15 bills each month. Water, electric, gas, cell phone, cable, landline phone, credit card, car insurance, home insurance, student loan, the list seems never ending. According to my highly acclaimed (translation: my mother liked it) 2010 report, US consumers pay nearly 15 billion bills each year. Many (though not…