The lack of visible transaction costs and efficiency-based pricing means that the proper price signals don't reach the end-users and thereby impede an efficient choice of payment instrument. So if we want to speed up development in payment services, we need to increase competition in the market and reduce the disincentives.
Based on our past Finnish experiences in major payment innovations, I predict that the implementation and penetration of mobile payments among the general public will take its time following the introduction of a general and user-friendly mobile payment solution. 4  BIS Review 40/2008  Our payment habits are deeply rooted. Merchants need time to adapt their systems.