Enjoy your holiday shopping this year; it could be the last time you reach for your wallet to pay for all of those gifts. A week ago, conventional wisdom would have dictated that Americans would need to wait at least five years before such a reality were even possible, never mind widely available. On October … Continue reading PayPal and VeriFone: Subtle Announcement, Sweeping Implications
Absurd? Maybe not. Visa, MasterCard and AMEX and their peers are acknowledging a serious threat in the future: the Smartphone. All of these companies make their money by taking a very small percentage of every transaction that uses their services. But what if you could complete a transaction without their services? What if you could … Continue reading Can Visa, MasterCard and AMEX Become Extinct?
The most widespread misconception about potential of M-Commerce is that it will primarily be a way to shop online. But, online retail accounts for only about 4% of all retail transactions today, and will probably grow to about 8% by 2014. While the growth rate is impressive, the fact remains that brick and mortar retailers … Continue reading Bricks, Not Bits, Will Drive the Mobile Wallet
Do you carry any barcodes with you in your wallet? What about your keychain? Take a look and count all of the loyalty cards, membership cards, coupons, and all of the other places were a barcode me here. I found four in mine, and I have thrown them all away in lieu of one of … Continue reading Migration from the Wallet to the Smartphone: Barcodes
“…what’s past is prologue.” – William Shakespeare, and to a lesser extent, Visa Mobile In the Emerging Markets section of the Visa Mobile page, Visa states, Nowhere is (the power of mobile payments) more apparent than in developing economies where mobile penetration outpaces bank card availability. Using existing mobile devices to access and transfer funds, … Continue reading Mobile Payments and the Third World