subject: Payment Trend And Much Challenges Of Cell Phones [print this page] Due to more and more customers begin to give up using paper money and cheque, transfer to using bank cards and electronic payment, Visa and Master Card benefit a lot from this. The data of Nelson Survey Company indicating, to US individual consumers, the consumption amount by bank card and electronic payment take up 50% over of all consumption amounts.
Last year, the consumption amount via bank cards by US consumers is USD 3.1 trillion, take up 79%. Mercatus from Consel Company in Boston estimate, in following 5 years, more than 50% US consumers will use cell phone payment. In those people from 18 years old to 34 years old, the proportions of using this service will up to 80%.
A report from Boston Federal Reserve Bank indicates, the new payment system maybe face a lot of barriers, which will prevent it from spread rapidly. This report speaks," Before obtaining enough sellers' support, customers will not be eager to use cell phone payment system. And before customers accept cell phone payment , sellers will not deploy this system rashly."
The report also claim, in order to deploy electronic indentify equipment, seller need pay USD 200 for each equipment. More over, upgrading the cell phone ( China cell phone ) and inserting chip in cell phone will lead to the cost of each cell phone increase 10 to 15 USD. If permitting to send promoting message to users' cell phone through indentify equipment, maybe attract sellers.
Further more, Visa and Master Card are also planning to set up their own cell phone payment system. Visa cooperates with operators, cell phone vendors and banks worldwide for many years to develop cell phone technology payment. Ajay Banga, the CEO of Visa, said this Tuesday, although the cell phone payment mode does not spread yet, he is confident to its future.
