Technology: Mobile Payments

But the bigger opportunity for Obopay and mobile payments in general is not in the U.S. It is in India and other parts of the world where a large portion of the population don’t have bank accounts. These are the so-called “unbanked.” There are billions of them and their relative spending power is on an upwards trajectory. Obopay CEO Carol Realini says:

There are four billion phones, and only one billion bank accounts. Our view is you have to have a way for both the banked and the unbanked to participate in the mobile payment system. [SeekingAlpha]

This is a technology to watch, I think. If you can do many things with your mobile, then you won't need your computer that is more expensive to buy and to connect. However, I don't know if I trust this technology yet. It took me a while to trust wireless routers, and I still don't use my mobile phone for anything involving money (e.g., checking bank balances, etc.) I know it can be done. People have told me that it's safe. I'm just... scared. I feel like I've become a dinosaur... no longer up-to-date on technologies. Well, let this technology penetrate other markets first. May be then I'd buy off on it.