As banks rush to support the latest payment technology frontier, known as mobile payments, previous technology stumbles offer a reminder of how tough it can be to change consumer habits, according to The Wall Street Journal. For the full story, click here.
Editor’s Insight: The evolution of the electronic wallet may take a few years, but given the convenience it will offer consumers and the benefits it will offer consumer product marketers, the electronic wallet will become pervasive.
This holiday season, the media has reported that online retail sales and mobile phone payments have increased from a year earlier as shoppers flock to the Web for deals and make purchases via wireless handsets on the first Monday after Thanksgiving.
Vending operators must prepare for this future by investing in the necessary hardware to allow cashless transactions. 11-29-11 By Elliot Maras
