More on mobile payments: VC Lee Hower argues mobile payments solutions have failed to take off...

|By:, SA News Editor

More on mobile payments: VC Lee Hower argues mobile payments solutions have failed to take off (he doesn't see Square as one) because they simply act as another means of paying via credit card, rather than creating "a new store of value." Also, current approaches suffer from both a chicken & egg problem between merchants and buyers, and a need to change human behavior. However, he thinks a major push from credit-card issuers, Apple/Google, or the government could spur adoption.