On January 6, American Banker published an article entitled Mobile Transfers Taking Aim at Cash Payments. I suppose that one could start a “cash threat” list by adding mobile P2P transfers to contactless payments. P2P transfers are an extremely useful tool and are already in place in much of the world – and not just via PayPal. There are two primary issues to be worked out. The first is determining which accounts to use to move money. The second issue is pricing. There has been a lot of talk about the tolerance of consumers to pay for P2P transfers. I believe that this is wishful thinking.
