Pay as you go...

The Economist's article from October 2001 was very pessimistic about mobile commerce. However, although I can see why mobile commerce didn't take off, I do believe cell phones have a great potential to become mobile payment systems that can let you easily pay for small transactions such as newspapers or coffees.

So I had a quick search to see how the world had changed since they wrote that piece, and came across this Economist article in March 2005. One quote that really struck me was this one:

"Walk into the experimental coffee bar at the MIC's offices in Seoul, and the screen of a handset lights up with the menu. You can order two cappuccinos, pay electronically and receive a receipt, all on the handset."

For me, that sounds that like a great solution to pay for all those little things I never have any spare change for. However, like Mike D, I agree with the article's premise that once cell phones become an item of commerce, they will become a increasingly tempting target for advertisers that needs to be carefully managed.

However, whereas CVS give you those little coupons on the end of a receipt which you always forget to use, how much more convenient if it was applied to your mobile wallet and automatically used next time you paid. Or, as I walk into Starbucks, I get sent a voucher for a free cookie...