Results for articles with tag 'mobilepayments' (2 total)
11/02/2024 11:24:36 AM 
The missing link in the coming mobile revolution is the payments piece. Various people and players have been struggling for years to come up with a solution that works across handsets, networks and operating systems. Then there's the issue of security and making sure that everything works as planned.
Currently, Amazon and EBay have made huge strides in making mobile payments, not just a reality, but a highly lucrative part of their business models. Although, huge these two players represent a tiny fraction of the universe.
This could be about change thanks to a company called BOKU, who have just started participating in a trial with AT&T. The system can work across platforms and is very simple from the user perspective.
"The process for making a payment is simple and convenient - users simply click BOKU to purchase and then 1. Enter their mobile number, 2. Receive a text message to confirm, and 3. Reply with the letter “y.”
BOKU has certainly attracted a lot of attention, including- Apple's.
It remains to be seen if the company waits to seize the big prize of offering its services across networks and handsets or goes for a quick sale.
If it's the former, there's the potential of this new service to radically change the mobile advertising space. If there's a simple, easy-to-use payment method advertisers will have opportunities to sell direct and making the advertising market instantly viable.
Posted by Ed Cotton
07/06/2024 05:02:53 PM
King suggests that the branch infrastructure could be one of the first things to disappear.
"Even if only 50 per cent of cash transactions are replaced by electronic stored value cards, debit cards and mobile wallets in the next five to ten years, the current ATM and Branch infrastructure that supports cash becomes almost untenable from a cost burden perspective. If you no longer need to go to the ATM to withdraw physical cash or currency, then everything you do on the ATM today can be done on your mobile App phone. If branches no longer need to deal with cash, then a large part of the reason for their existence disappears."
The branch has been the most visible form of brand communication for most banks through history and the point of physical connection and a demonstration of their strength and security. Take the branch a way and you have a whole new world.
Just as an example- take a look at these images of the old Williamsburg Savings Bank to see just how the branch was used to communicate the brand's power in an almost regal or Church-like manner. Ironically, the bank no longer exists and is now used as the site for a weekend flea market.
Posted by Ed Cotton
Articles for tag mobilepayments (2 total).