Mobile Payments in the Light of Money Theories

In developed economies mobile payment services have not made the breakthrough expected. At the absence of success researchers have investigated the reasons of failures. Other new streams of research include ecosystem studies, platform and multi-sided platform theories, and mobile payment service business model studies. This conceptual article complements efforts to accelerate the acceptance of mobile payment by reviewing theories of money. The objective is to detect implications for mobile payment services. Theories of money are shown to have implications to the definition of mobile payment in addition to mobile payment services. Four conclusions are drawn from classical, neoclassical, social, state theory, credit theory and post-Keynesian theories of money..