It seems that all major companies are going viral, they are trying to find the best and fastest way to make their products more user friendly. Google is already present in the shopping online world via Google checkout, which allows users to make purchases online via their mobile devices. Previously we talk about Starbucks mobile payment (here) and now it seems that Google is following next. Google has teamed up with MasterCard Inc. and Citigroup Inc. to add new technology in Android devices which will allow for consumers to make purchases by waving their phones in front of a small reader at the checkout counter. The planned system will also allow Google to offer retailers to get more data about their customers which they can use to target their ads and discount offers to mobile-devisers near their stores. The idea is to turn the mobile devices into a kind of electronic wallet.
Consumer advocates, meanwhile, are concerned that a mobile system would bring higher fees and brings upa question of whether or not consumers actually want this new system. "It is possible to make a system that's too easy to use, where you reduce so much friction from the transaction process that people aren't necessarily aware of what they're spending on something?" asked Jan Chipchase, executive creative director at the design firm Frog Design, who studies mobile payments.
What do you think? If this new system brings hidden fees, will it be worth it? Or is this something that you can live without.
Is swiping the easy part?
M. Alexandra
http://www.thestreet.com/story/11053577/1/googles-mobile-payments-challenge.html?cm_ven=GOOGLEN
http://www.nytimes.com/2011/03/24/technology/24wallet.html
http://www.businessweek.com/technology/content/dec2010/tc20101231_087039.htm
2 comments:
I love this idea. I catch myself constantly downsizing: smaller wallet, keychains on my key ring reduced to none at all, and a smaller cellphone. When I go out I sometimes don't even take a wallet (just my ID, credit card and a $20.00 bill). So for me being able to store all my "money" on my smartphone would eliminate the need for a wallet meaning I have less to carry. Being a Marketing major I realize another plus side is the data that can be collected from consumer purchases and how it can be useful to target certain demographics etc. A downside to this is if I loose my phone or it's stolen...with less to carry I have more to loose.
Well one of the reasons they're doing this is to eliminate fees. The way I see it is that some business require you to purchase up to a certain amount with a credit card. Well through this new system, you don't have to worry about it because it's already been purchased. Thinking about it now, it is more safe banking wise. If they really wanted to save money, they should e-mail you the receipt (like Apple does) and don't print it out. Be green!
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