Mobile Payments are Hard to do Right

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Celent have reviewed this profile and believe it to be accurate.
25 January 2011


  • This scenario seems to support the argument in favor of "rip-off and duplicate." There are many in the financial industry who bemoan the lack of innovation, but doing R&D right is difficult — it takes time, talent, focus, patience, money and a propensity for risk/failure. It's often way easier and way cheaper to let other, more courageous firms beta-test ideas, then steal the ideas that work or hire a third-party supplier.

  • [...] to use QR (Quick Response) codes in financial services and payments context. Celent has already blogged about how the code can be used to buy a Starbucks coffee. Last week, Smart Transactions launched [...]

  • There are lots of moving pieces in the payments world and getting them all correct is difficult. First mover advantages can be powerful, but in mature markets fast-follower may be equally valid.