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