| The "mobile wallet" idea is similar to what | | | | North America because use of credit cards is |
| was being pushed in the 90s as "M-Commerce" | | | | already widespread. So converting customers |
| -- using cell phones as mobile payment | | | | to cell phone payments does not have the same |
| devices. But the current manifestation of the | | | | appeal for North American credit card |
| idea sees mobile wallets also carrying | | | | companies -- they already have the |
| electronic versions of other things usually | | | | business.However, other non-credit card |
| found in wallets -- membership cards, loyalty | | | | payment processors such as PayPal actually do |
| cards, and other forms of | | | | have a vested interest in seeing the mobile |
| identification.Advocates of the mobile wallet | | | | wallet payment system move ahead. Paypal, |
| concept include credit card companies, | | | | which has developed a massive online presence |
| hardware vendors, credit card terminal | | | | have an obvious interest in moving into more |
| companies, and traditional wireless companies | | | | traditional payment processing areas. They |
| like Nokia and Cingular. Industry | | | | see mobile payments as a way of offering an |
| representatives project there may be as many | | | | alternative to consumers and taking business |
| as 25 million wireless subscribers in North | | | | directly away from credit card processing |
| America by 2011.** Consumers Not Excited | | | | companies -- just as they have done online.** |
| about Mobile Wallet ConceptBut according to a | | | | Cell Phones and iPods being used for Tour |
| recent study by In-Stat, U.S. consumers are | | | | GuidesAnother expanding use for cell phones |
| lukewarm to the idea of using cell phones as | | | | is being experimented with in places such as |
| mobile wallets.The survey of consumers found | | | | New York City where several companies are |
| that only about 33% of those surveyed were | | | | developing audio tours for places like |
| interested in the idea. 72% of respondents | | | | museums, art galleries, and even street |
| were concerned with the additional fees that | | | | tours. WNBC reports that the Museum of Modern |
| would be attached to this service. A smaller, | | | | Art in Manhattan offers audio tours on |
| but still very significant, number of | | | | handheld guide devices, and also makes the |
| respondents were concerned about the | | | | tours available in MP3 format for free on |
| potential loss of privacy and security.** | | | | their website, and even at iTunes.These tours |
| Mobile Wallet Idea Big in JapanThe mobile | | | | can be downloaded and then played on your |
| wallet concept was given a large push in 2005 | | | | iPod or MP3 enabled cell phone while you |
| when a number of major Japanese credit card | | | | browse through the Museum. Just don't be |
| and mobile phone companies formed the Mobile | | | | surprised if you're asked to stop talking on |
| Wallet Alliance. The incentive for such a | | | | your cell phone while in the Museum.One |
| service is greater in Japan than in the U.S. | | | | similar service includes walking tours |
| and Canada because fewer Japanese consumers | | | | narrated by celebrities, developed by Talking |
| rely on credit card transactions. The mobile | | | | Tours. These audio tours can be accessed by |
| wallet is seen as a replacement for cash -- | | | | cell phone. The $5.95 charge will be added to |
| especially for "micro payments".Japanese | | | | your cell phone bill.Another service is made |
| credit card companies and mobile phone | | | | available by Soundwalk. Tours are avaible on |
| companies both see this as a future growth | | | | CD or as a download. You can then load them |
| area because it will increase cell phone | | | | into your iPod, cell phone, or other MP3 |
| usage as well as reliance on the credit card | | | | device so you can listen to an "insider tour" |
| infrastructure.Things are a bit different in | | | | while you "walk the walk". |