Could someone please build the Paypal of mobile payments?

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Could someone please build the Paypal of mobile payments?

Posted by claude - 13/01/09 at 07:01:54 pm

I was just reading this article on TC about mobile payments. As the article appropriately describes, transaction fees of 30-40% are way too high for any merchant to seriously consider this as payment methods. Especially because mobile payments, as a quick and easy way to send money, would be best used for cheap articles (virtual gifts etc.). But giving away 40% of a low priced item isn’t really something you want to do. And what about adding mobile payments to existing website, shops or communities? Would you just charge members, who want to pay via mobile, 40% more or give up half of your margin?

So, why is there no Paypal for mobile payments where I can store my CC number and then simply use my mobile phone for payments? Depending on the country, there could even be an integration for direct bank billing and other country specific payment methods. Maybe I am missing something but I sure that even with all charges considered, the merchant transation fee would be way below the 30% that are currently charged. Zong, can you please add that?

January 13, 2009 | In Business, Random Rants | No Comments

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Claude Ritter