As people become more comfortable with mobile commerce, they begin to embrace things such as mobile wallets and the ability to not have to reach into their pockets or physical wallets to pay for something.
In an effort to address the digital ecosystem, MasterCard (News - Alert) is focusing on doing away with the need for credit information to be stored across a variety of different mobile apps. Find out how Mastercard’s MasterPass can help to accomplish this.
MasterPass in-app payments can provide speed, convenience and what MasterCard believes will be a great experience. With MasterPass your digital wallet is connected into the MasterPass Acceptance Network. The hope is that this will give you the benefit of a safe, convenient and smart way to checkout wherever MasterPass is accepted.
This is the type of progress that is making people feel that comfort level with respect to mobile payments. In fact, it seems that mobile payment companies are getting set for what can a growth spurt very soon.
I have said many times in the past that whenever I speak to individuals or financial institutions that everyone’s biggest concern is security. There is no comfort level in thinking that your financial information is floating around somewhere.
What is helping to increase the level of comfort in using any of the variety of mobile payment options today is the fact that more companies are competing in the market segment that deals with security. These advancements will lead the way to major growth in this field.
Some of the conveniences that mobile payments are supposed to afford people are the ability to carry less with them, as well as not having to find several different cards and IDs in your wallet. But what about those stores which offer their customers rewards?
If you have to carry around those key fobs and little plastic tabs, then where is the convenience in that? That might all be a thing of the past when near field communication couponing comes to a retailer near you.
There are a few companies that are working together to help make this a possibility. This could offer both retailers and customers some unique benefits. If the result is faster transactions, that relates to more transactions which will make the retailer happy. Faster transactions also mean that customers will complete their shopping faster which, of course always makes me happy when I’m shopping.
If I’m not mistaking, not long after the sale of marijuana was legalized in Colorado, the state suffered a shortage. So far, I believe that only two states have legalized its sale for recreational purposes, but given the fact that the sales tax alone could probably fund a small country, I’m sure that many more states will follow suit.
This does bring up some interesting legal points, one of which is how banks will deal with it. Since it’s legal in Colorado, this should be no problem with local banks, but will an out of state bank having problems dealing with one of these locations?
SinglePoint, Inc. is attempting to resolve this conflict. It is announcing an entire suite of solutions for marketing, loyalty, branding, and payment processing for legalized cannabis and marijuana industry members.
I think that I would be remiss if I didn’t mention something about Bitcoin at this point. The thing to mention is how much longer do you think this digital currency will be around? It seems that Tokyo Bitcoin exchange Mt. Gox is closing its doors.
If you want to find out more information concerning Bitcoin and how it works, or how you can get your virtual hands on it, this article is full of insight.
These are just a few of the stories that we worked on this week. Believe me when I say that I cannot even begin to scratch the surface of everything that has been going on just this week alone. You will have to take some time and sort through all the information that we have for you. It is something that I suggest you do on a regular basis.
The world of mobile commerce is growing and changes are constantly happening all over the globe. It is impossible to know everything that happens as mobile commerce continues to forge ahead and make major strides. It is impossible to mention everything that is happening and all that we’ve looked at just this week alone. The best way to stay current is to keep checking in with us. You can stay current by checking out the details to these stories and many more by going to Mobile Commerce Insider and keeping an eye what is going on in the mobile world of commerce.
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