This video demos Apple's new Passbook tool, used to "simulate" the functions of a mobile payment app.
It shows that a Pass takes 15 seconds to download and start using, while a mobile payment app (looks like Square) takes almost 5 minutes.
That's 300/15 seconds = 20X easier for Passbook. OK, it has about 60% the functionality. So 20 X .6 = 12X easier.
Passbook is 12X easier, and in my experience, customer adoption is based on the square or the cube of ease of use.
And the mobile payments industry has been facing stubborn resistance from US consumers.
My view is, we'd better figure out how to integrate Passbook into the mobile payments industry. Quick.
Forget NFC or lack thereof. Focus on the immediate term...Passbook enabled offerings are going to be rolling up the customers faster and easier than anybody else, while the standard mobile payment apps are going to grind to a halt.
Is this guaranteed? No. This is just a first stab at the problem, done on a limited budget.
But never mind...the stakes are far too high and the potential for Passbook to disrupt the nascent mobile payment industry are too obvious. Even if this video is half-right, it's still huge.
Here is an earlier video.
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