Hurdles seen to widespread use of mobile payments

Barriers to the industry include consumer engagement and confusing terminology

By Zach Miners, IDG News Service |  Mobile & Wireless, ecommerce, mobile payments

"Who owns the problems?" Holland asked. Still, the Yankee group analyst estimated the total market for mobile payments could be worth $1 trillion by 2015, including all forms of mobile payment.

And while consumers in the U.S. wait for mobile payments to go mainstream -- it's already widely used in some countries, like Japan -- there are related smartphone technologies that can be developed along the way to make shopping easier, like apps for comparing prices or advising people which credit card to use to make the most of their loyalty rewards points.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is zach_miners@idg.com

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