While consumers are warming up to using their mobile phones to manage their bank accounts, some wonder whether people want to use them to pay for items in stores or to transfer money.
Citi's trial of Obopay Inc.'s technology determined that even the likeliest audience for mobile payments is still a long way from embracing it. One of the most frequent uses of the service the trial uncovered was by parents sending children their allowance. Obopay's system also proved compelling as a means of replacing checks, particularly for small business owners that did not accept electronic payments.
In an online poll this week asking which type of mobile payment service is likely to catch on first, 40% of respondents said contactless payments at the point of sale, 24% said person-to-person transfers, 18% said it would be a service on one's thought of yet, and another 18% said it will be years before consumers warm up to any mobile payment service.
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