The Future of Money Group, at LinkedIn

Jitin Narang, Mobile Consultant & Entrepreneur at TeachAhead creates LinkedIn Group The Future of Money. He invited me to participate as an Authority, and today was my first participation in these kind of Groups. I made a copy & paste of a short paragraph that I wrote. 

For those who are workin’ at the Mobile Money Industry I strongly recommend The Future of Money. They are people there who understand what are talkin’ about.

Jitin Narang: 5 Billion Mobile Handset and just 2% users using mobile payments ( .1 Billion). What do you think are the biggest challenges in growth of mobile payment users?

5 Billion Mobile Handset users and we all know benefits of mobile payments: convenience, no need to carry wallet, quick transactions etc., then why mearge 2% users who are using mobile payments? 
What do you think are the biggest challenges in growth of mobile payment users and what various stakeholders like: banks, government agencies, handset developers, application developers can do to contribute to the success of easy and seamless mobile payments and growth of users?

Federico Nano: I think the point raised by Jitin is the key to everything we are thinking about our day at the Mobile Money industry. 

 Particularly I think the first problem that severely restricts the growth of mobile wallets is the approval of devices and channels. The industry level equipment manufacturers, have to agree on what will be the channels that the phone of tomorrow will use. 

Secondly, I think there’s a huge problem at the regulations. The Mobile Ecosystem will only exist when the ITU and systems of each country financiertos give a fresh and young to the problems that arise through this new way of collecting payments and telecommunications.

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