The Mythology of Mobile Payments

Myths can affect the way people go about their daily lives. Not only can it keep them from enjoying leisure activities like swimming after eating, drinking water out of plastic bottles, and believing their wishes will come true when made at 11:11; it can also have an effect on them adopting new forms of technology. These myths about technology are keeping Americans from making the jump to mobile payments — even though nearly half of them are smartphone users.

Other countries around the world have begun to embrace mobile payments, but Americans still remain uneasy about adopting this new technology. Mobile payments are making consumers’ and business owners’ lives easier. Don’t have enough cash for those beer battered shrimp tacos and specialty burger from your favorite food truck? Want to order that limited edition red vinyl album by one of your favorite bands before they sell out to every kid in Brooklyn? Or, forget to pay your cell phone bill and it’s moments from shutting off? Mobile payments will save you.

Because we are on the go so much and so many of us have smartphones sucking up WiFi, the mobile payments market is expected to grow from $16 billion in 2010, to $200 billion in 2015. It’s only a matter of time before people begin to embrace mobile payments.

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