Mobile Money Network: Completing the Circle

The Mobile Money Network, owned by the Carphone Warehouse, is a mobile payment system. Along the same lines as Google Wallet and Paypal’s mobile payment system. Within the next year their aim is to have several hundred big companies using the network in advertising campaigns. This is where a fundamental change could occur in the use of QR Codes in adverts.

Currently it is too often the case that QR Codes in a glossy magazine simply takes you to more rubbish information about a product you already know you are interested in. However with the Mobile Money Network the plan is to link these QR Codes to instant purchase pages. Although security fears surrounding QR Codes have been raised in the past, with people able to put their own link over the top with ease, this should solve the problem; an application such as this will be able to verify that it is a proper authenticated product.

It will be interesting then to see how this develops. Big names such as Thorntons, HMV and Debenhams are reportedly considering adopting the scheme. Only time will tell whether this is a viable option but if they find an effective way to link it to peoples bank accounts (e.g. without having to top up another account regularly) then it could catch on. Only time will tell.

Jack

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