Gearing up for mobile payments

Posted: November 22, 2010 in Apple, Future, iPhone, Mobile, mobile wallet
Tags: , , , , , , ,

The mobile money space is starting to warm up, with both Apple and Google reportedly in talks with payments start-up Boku.

As Techcrunch points out, Apple already has 160m credit card accounts associated with iTunes. Making those transactions possible through a mobile, especially for those in developing countries who may not have a credit card, would be a logical next step and is one of Boku’s strengths.

Square is also gaining traction with its add-on software that turns a smartphone into a point of sale at the swipe of a debit/credit card.

Why is this important in the context of a news organisation? Because it’s one of the elements that will see smartphones become the dominant platform for consumption of future services.

Google is already a “mobile first” company. The rest of us will follow.

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