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| BornAgain2 |
Digital 'wallets' proliferate at CTIA cellphone showIt's only going to take one little spark or 2 to bring this entire system down, and the masses will be begging on their knees for ANY solution.Rev 13:18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six. Digital 'wallets' proliferate at CTIA cellphone show Published May 11, 2012 Associated Press NEW ORLEANS – Cash, coins and credit cards are so Twentieth Century. At least, that's the opinion of the electronics manufacturers, phone companies, banks and credit card issuers that expect cellphones to be the main way consumers pay for purchases in the not-so-distant future. The trouble is, that vision-of-tomorrow is somewhat blurry, as evidenced at the U.S. cellphone industry trade show held this week in New Orleans. There are a lot of ideas, but little agreement. The stakes, however, are high. "Eighty-five percent of the world's transactions are still made with cash and checks. We have a wonderful opportunity to convert those," said Gary Flood, MasterCard's president of global products and solutions, in a keynote speech at the show. 'The idea behind this is: How do we get more wallets and more innovation?' - Ed Olebe, MasterCard senior vice president One concept that gets a lot of attention is the "digital wallet" -- a virtual repository for our credit card numbers, receipts, coupons. It's not much different from a PayPal account, which can be linked to different cards. A lot of companies see the wallet as the key to influence in the world of mobile payments, especially if it sits on a cellphone, not just on a PC. Google introduced its Wallet last year. It's available on a few phones that can be tapped against certain payment terminals to complete a payment. Andrew Lorentz, a lawyer at Davis Wright Tremaine LLP who works with the payments industry, said at the show that if he had a dime for every digital wallet that's been announced, he'd be rich. "I can have more wallets than cards," he said. At the show, MasterCard announced a service that could speed up wallet proliferation even more. The company's idea is to let any company that wants to set up its own wallet. "The idea behind this is: How do we get more wallets and more innovation?" said Ed Olebe, MasterCard's senior vice president of e-commerce development. Consumers trust their banks, he said, and might want to keep their cards in a bank-branded wallet. Banks, meanwhile, want to extend their relationships with customers, tying them closer. Stores may also want their own wallets, taking the step up from issuing loyalty and credit cards. (cont.) Read more: http://www.foxnews.com/scitech/20...-at-cellphone-show/#ixzz1vIhgNjkD |
| BornAgain2 |
http://www.washingtonpost.com/bus.../2012/08/02/gJQA7i9RRX_story.html
8/2/12 Google Wallet app making a move to the cloud The biggest shift is that the app is making a move to the cloud. Now, instead of storing a user’s key card data on their phone, Google will store everything on its servers. Google says that this not only speeds up card authentication, but it will also make it easier for interested banks to adopt its payment system. The other big addition is that Google Wallet now finally supports Visa, Discover, and American Express cards. This should be significant to anyone who’s tried to use Google Wallet only to realize that the system didn’t support their card of choice... (cont.) |