Nice ongoing discussion there about G-Cash and S-Money. Another one here, courtesy of the recently resurrected ka edong
I also explained this sometime ago to a chinese gentleman from a market research firm trying to find out if the model would also fit in china. I think the main barrier is the current local m-commerce platform offered by Smart and Globe are both very limiting. Not only that you can't transact from both one platform to another, but both platforms has very few applications and connections.
On the other side of the coin, this is m-commerce, and there is more than meets the eye regarding the security considerations that goes with this kind of systems. Inter-operability is both a blessing and a curse depending on which side peg your question.
- And everybody's shouting. "Which side are you on?"