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The Future of Mobile Payments

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It is predicted that by the year 2017, every wireless technology that was being developed around 2007-2011 would become quite common, and would be taken for granted later on, such as mobile e-mail, Wi-Fi systems, and Digital Broadcasting (Saunders, 2007:182-183). At the moment, everything that can be supported by the mobile phone is being explored, such as mobile internet, television, bill payments, and the like. In the future, these and more will be the norm, thus the need to exchange even more data in the network, such as personal information, photos, among others, as part of a community-built database (Cortizo et al.

2011). The main objective of the paper is to explore the functions of one of the developments related to telephone technology which is the Pay-by-Phone technology in the UK. With the introduction of Pay-by-Phone in the U. K. for ease of payment, currently being assessed is the use of mobile phones as electronic wallets, the possibilities they pose for customers, and their impact. The aim of the study is achieved through the presentation of the different technologies related to the Pay-by-Phone innovation and the reaction of the public.

One of the studies related to the development of the payment through phone had been determined in the study of the conducted in Greece. In 2008, a survey was done to find out the preferences of a representative age group that frequently use mobile phones and have the potential to adopt newer services, such as mobile payments (Androulidakis et al. , 2008). Using gender as the demographic variable in order to identify some major distinctions between mobile users, the survey churned out remarkable results.

Of the population surveyed, those with the ages between eighteen and twenty-four, there were 34.17 per cent male and 65.83 per cent female. There was also the trend of men preferring to buy “ digital goods” such as mp3, videos and other digital content.

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