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Easy Money.

August 29, 2012
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Payment options continue to expand, making commerce easier for companies and individuals to do business anywhere and everywhere. It is absolutely fascinating to watch how this is changing business right in front of our eyes and it is exciting to see how it will change our lives in the next few years.

[LINK:] Want to see how our relationship with money is changing?

Today I read that WePay has rolled out a button, with a single line of code, that allows any site to accept in-line credit card payment. Sure, PayPal is still an almost frictionless option but for those without a PayPal account, WePay offers the ability for them to pay by credit card on any site. Maybe even your site.

[LINK:] TechCrunch article here.

If you are not familiar with NFC (Near Field Communication), here’s a [LINK:] short video that explains it for you.

And here are some projections from the good people at Square:




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Our Changing Relationship With Money.

July 30, 2012
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Let’s look in a pocket…the one with your smart phone in it because that’s where the money is going to be in the form of “stored value” vehicles. You may even have one now if you have a Starbucks app. No cash or credit card needed for that one, eh?

A few weeks back I was in New York at a conference where Donald Chestnut and Alex Sion from SapientNitro were presenting, “Mobile Payments: The Future of Money”.

 Here are my notes:

mPayment Solutions don’t simply enable a new method of payment, they will fundamentally transform our relationship with money. There will be a paradigm shift in how money works, how people perceive and use it, and the end of physical currency as we know it.

Credit cards will undergo a significant transformations: mPayments will redefine how we pay, how we use credit, and what a credit card is. Is it credit? Is there a card? How do you extend, acquire, and receive credit?

Customer’s relationship to money and commerce will move from singular moments to an “always-on” relationship across space and time. When does “shopping “ happen? When dos “purchasing” happen? Buying online and picking up in a store, Checking out in a store and paying for it 2 days later…

mPayments will cause a fundamental change in the retail experience. Mobile payments will enable the “check out” process to occur in-aisle, at home, anywhere. As a result, mPayment will challenge – and redefine – long standing assumptions of how stores are designed.

The arrival of mobile payments will enable a new generation of real-time, insight driven, shopping and financial tools. This is the end of the days of consumers being “dumb” at point of sale. It is consumer empowerment to the max.

There are a variety of hurdles for mPayment success, with user adoption being paramount. Overcoming user adoption, interoperability, privacy and security, and government are among the largest obstacles to mobile payments. The ability to pay by phone will not guarantee success.

mPayments will enable a whole new class of merchants – including new ones. mPayment solutions will enable a whole new class of merchants: craftsmen, small business owners, etc.

The mPayment landscape is diverse, and success may come from a wide variety of players. These diverse players may include tech, merchants, traditional financial services, and government or a combo thereof.

NFC technology will fuel mobile payments growth but mobile payment success is not dependent on NFC. It’s not bout any specific technology. It’s about the experience of frictionless, transparent, consumer-empowered commerce and many roads will lead there.

Mobile payments will open up access to money transactions for the under-served. Opportunities for those without bank accounts, or access to branches or those without smart phones. Financial inclusion is the opportunity.

So, what about tablets? Here’s another perspective on that:





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