Once upon a time
Once upon a time, when m-commerce was first talked about, before anyone had ever heard of Ringtone Clubs or the Crazy Frog, SMS-enabled transactions (for car parks, cans of coke, etc) were all the rage.
Why didn't they catch on?
Now, given that there were no major technical or political obstacles back then, and that there is at least one major political obstacle to Nokia acting as a bank , how is this "new" idea going to catch on ? What's different this time round?
 The political obstacle: the incumbent national banks, and their lapdogs in the national regulatory authorities.