Are Mobile Payment and Banking the Killer Apps for Mobile Commerce?

Mobile commerce had been expected to become a major force of e-commerce in the 21^st century. However, the rhetoric has far exceeded the reality so far. While academics and practitioners have presented many views about the lack of rapid growth of mobile commerce, we submit that the anticipated mobile commerce take-off hinges on the emergence of a few killer apps. After reviewing the recent history of technologies that have dramatically changed our way of life and work, we propose a set of criteria for identifying and evaluating killer apps. From this vantage point, we argue that mobile payment and banking are the most likely candidates for the killer apps that could bring the expectation of a world of ubiquitous mobile commerce to fruition. Challenges and opportunities associated with this argument are discussed.