It’s predicted that 1 in 6 mobile device will be contactless by 2014. With London being the first European city to go contactless in time for the Olympics you might be under the impression that we’re ahead of the game.
Not in the slightest. It’s been around in Japan and Korea for several years now, which probably comes as no surprise. However it’s with the developing nations where huge progress has been made, driven by their poor access to banks.
In Kenya 50% of the population pay for bills, food and even taxis through their mobile phone. While in Ghana, 88% have access to a mobile money service.
So while the developing nations embrace the mobile wallet, we're still partial for the leather variety.
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