Death of Cash and the Credit Card?

Over in Ireland, it would appear that the mobile and financial worlds are about to collide. WirelessDevNet.com reports that representatives from both sectors got together to find methods of mobile payments that will work for everyone involved.

MOBILE MICRO PAYMENTS VERSUS CREDIT CARDS Panellists highlighted that the content industry has created the need for new payment methods over mobile. Credit cards were not designed for the small transactions or “micro-payments” that characterize the mobile content market, which includes ringtones, songs, games and movie clips. According to Susie Lonie, senior product manager commercial relationships, Vodafone UK, “We are not trying to compete with credit cards and we couldn’t if we wanted to.” She explained that the motivation for enabling mobile payments is to make the mobile phone central to the user’s life by delivering a wide range of compelling mobile services that are easy to buy.