I would think this may be the case if one basically moves paper to mobile "as is". But such approach does not make sense. Mobile give an opportunity for direct-to-consumer marketing that mass mailing will never do. With targeting based on profile, consumer behavior, location , time, and many other factors the relevance of the offers can be much stronger and with it the perception of value and the consumer adoption. Data analytics is crucial in this context and one-on-one access to specific, identifiable consumers enables the use of the results of such analysis to the greater advantage of consumer and vendor. Otherwise, this is like trying to use the mobile as the carrier of the credit card data instead of plastic and not changing anything else in the payment card paradigm (sounds familiar?)... then wondering why there is no adoption. One needs to solve a problem that has not been solved or come up with a much better solution than those in existence to gain adoption. Credit cards and paper coupons are not broken and work fine within the confines of their abilities. Electronic cards or electronic coupons when they are virtual copies of their analog cousins bring no new value.