Mobile transactions is more complicated, and interesting, than it first appears or sounds. Juniper Research predicts that by 2011:

“Person-to-Person (P2P) fund transfers and mobile payments in the developing world, together with the commercialization of NFC based mobile payments, will generate transactions worth approximately $22bn.”

If you look closely at the above sentence, you will see that there is a lot to consider:

  • Person to Person fund transfers, and account, digital money and security implications
  • Mobile payments, digital money, and related implications
  • Commercialization of NFC, from end-users to merchants, and credit card companies
  • Developing world, but we don’t have to go that far to realize the potential of mobile transactions
  • Connectivity, short range (such as NFC) and over the Internet, and network carrier implications
  • Security – authentication, authorization, transport, on-device
  • Integration, with POS readers, POS, merchants, merchant banks and other
  • Educating the end-user

And as important is the following question on What is going to trigger people to use the above? Is it convenience? Or is it security?, or will it just happen?

To explore this topic, I’ve created the Mobile Transactions page.