And if the goal is reaching out to the poor... with a service based primarily on checking accounts... you're in for the world of pain known as ChexSystems. A lot of the "unbanked" just plain can't get a checking account. And if Wal-Mart goes down that road they will quickly learn what that is. It will also run into the issue of SSN's and drivers licenses. Two things the unbanked might also be lacking.
And it doesn't really matter if this is the only form of mobile payment they will support, because nobody really wants this. I used to work for a major retailer (who tried to hire me back earlier this year) and their market research across all demographics found consumer enthusiasm for mobile payments PEAKED at indifference. The most positive impression held by any demographic group was indifference, most had a negative one.
The only people who want mobile payments are douchebags who want to conspicuously whip-out their iCock in line at Starbucks.
Edit history
Recommendations
0 members have recommended this reply (displayed in chronological order):
= new reply since forum marked as read