I attended the Second International Cashless Society Roundtable meeting in Dublin on 17–18 April, 2013. The event was dedicated to a shift from physical cash to digital currency. Therefore, different aspects of cashlessness, its consequences, and societal impact were in the main focus of presentations and panel discussions during the meeting.
Presented and discussed topics exhibited a wide range of questions related to cashless society, such as innovation in payment and financial services, capabilities of digital payments as multi-sided platforms, analysis of consumer spending behaviour, partnership in mobile payment business models, and so on. The participants of the meeting included both academic researchers from one side, and industry and financial sector representatives from another.
KTH Royal Institute of Technology was represented by Niklas Arvidsson (Indek), Jan Markendahl, and me. Niklas Arvidsson presented findings of his research on “Industrial dynamics and the transition to a cashless society”.
Jan Markendahl and I presented results of the common research “Lessons from Swedish mobile payment market”. One of its main finding is an evidence of a high level of fragmentation in mobile payment market leading to a negative consumer experience. This swedish example of the situation in mobile payment sector was rather new for the meeting participants, so, the presentation facilitated discussion about future and capabilities of mobile payment.
During the meeting, I presented findings of research on “Barriers to further commercialization of NFC pilots in Western Europe”. The main finding of the research was an identified set of interrelated macro-environmental, micro-environmental, and individual factors, which slow down the spread of NFC based mobile payments and services. The message was well accepted, and the presentation was followed by a discussion of barriers and possible ways to overcome them.