But the bigger question to all of this is why. Why would retailers or banks, for whom credit or debit card purchases are working well, want to introduce this?

“You’ve got people doing more things with their mobile phones and you’ve got payment schemes which are looking to capture nonelectric types of commerce,” said Ablowitz of Double Diamond Group. “If you can convert cash to electronic (payments) you’re gaining a lot of share.”

CNet, August 25, 2010