Exploring the Future of Money, Banking and Philanthropy

Archive for September, 2011

Who’s behind it? | Robin Hood Tax

The Robin Hood Tax campaign started as an idea. People loved it. We became a movement. And we’re still growing.

We’re committed to reducing poverty and tackling climate change by taxing financial transactions.

We believe it’s time to rewrite the contract between banks and society.

We are charities, green groups, trade unions, celebrities, religious leaders and politicians.

We are world leaders – President Sarkozy of France, Chancellor Merkel of Germany, Prime Minister Zapatero of Spain, among others.�

We are businesspeople – FSA Chairman Lord Turner, financier George Soros, entrepreneur extraordinaire Warren Buffet.

We are economists – Nobel Prize winners Joseph Stiglitz and Paul Krugman, Earth Institute Director Jeffrey Sachs and 1,000 other economists from across the world.

We are 256,000 Facebook friends, and tens of thousands of people taking action around the UK. We are over 115 organisations, including charities like Oxfam, Barnardo’s and Friends of the Earth, all the major trade unions and faith organisations such as the Salvation Army.�

We are part of a movement of campaigns in more than 25 countries around the world with millions of supporters.

We are a force to be reckoned with, and we’re demanding justice.

Are you?

via Who’s behind it? | Robin Hood Tax.

Google-Plus is going to be your bank account

Where will Apple, Amazon, Google meet up next year or the year after?

They’re all going to be banks!

Why do you think Apple is piling up all that cash. It’s a lot of cash for a consumer products company. But it is not so much cash for a bank.

Same with Google, and esp Amazon.

So now maybe that makes it clear why they want your real name on your Google-Plus accounts, and why they don’t want to screw around with corporate presences. Not such a problem for publications like TechCrunch or Mashable, which don’t move around a lot of money. But for any business like say an oil company (extreme example), they want to have all kinds of flows hooked up to your Google account.

Google plays a huge role today in defining value in Internet commerce. Google-Plus is their integrated communication system. Over time, it’s going to be at the core of everything they do, from auctions, to paying for things with Android phones, to their groupon and yelp clones. They’re going everywhere, and this is the system that will tie it all together. So, at the outset, of course they need real identities. That Google-Plus account you’re playing with today is going to be your bank account next year.

Facebook moved the ball way down the field, but now all the other big tech companies have their clues. Not as if Amazon didn’t already have a great way to get user involvement in the definition of value in commerce on the Internet. I can’t go shopping at a real world retailer anymore without already having previously made my decision on Amazon. Maybe for a few things, it’s still necessary to see them and feel them before buying. But the user product reviews on Amazon are the new standard. Google wants some of that action.

Don’t kid yourself about art being part of this, it’s not, in any way part of it. Or sociology. Or a “feel” for users. The big deal is who can make the money flow through their networks. And when it’s all finished, what that looks like is closest to what we think of as a bank today.

via Scripting News: Google-Plus is going to be your bank account.

Experts Weigh In On Mobile Payments As Google Wallet Goes Live – Companies & Execs – Portfolio.com

On Monday, Google announced the launch of Google Wallet, its answer to mobile payments, for Sprint subscribers who own Nexus S 4G Android smartphones. Tricked out for mobile payments, the phones allow users to load a credit card onto their Wallet app, head to participating stores like Macy’s, and tap the device against a reader to make a payment. Plastic not required.Jason Hennessey, CEO of Everspark Interactive, an Atlanta, Georgia-based search engine optimization company that also tracks and tests mobile websites, says that the Google Wallet will be a litmus test for the mobile payment space. With mobile payments predicted to hit $670 billion by 2015, up from $240 billion this year, according to Juniper Research, it is no surprise that the field is full of players trying to edge in, including Verizon, T-Mobile and AT&T, which formed a partnership called Isis to do so.But, “if anybody can do this, Google can,” Hennessey says. “People trust them with their emails and now with their social media.”He predicts that consumers between 18-and-35-years-old will be early adapters of the technology, and those “above that demographic [are] used to making payments with credit cards and won’t feel comfortable with the change.”Mark Pingol, a vice president of consulting at Envirosell, a New York-based consumer behavior research firm, agrees that will be the case initially, but adds that with mobile phones now used for shopping, and consumers constantly demanding more convenience, the mobile wallet was only a matter of time.And he agrees that Millennials—so used to instant access and quick transactions as it is—will be quick to jump at the chance to pay via phone, though barriers remain.“The mobile wallet would be an attractive option to this generation since it’s so novel and convenient, though adaptation may not be as quick since security and identity theft issues are top of mind,” Pingol says. “There’s no real protection as far as your identity.” he says.

via Experts Weigh In On Mobile Payments As Google Wallet Goes Live – Companies & Execs – Portfolio.com.

Google Wallet Mobile Payments Coming Very Soon: What It Means for You CIO.com

“Google Wallet is launching September 19, 2011. Google Wallet is a smartphone application (app) that allows owners of the Sprint Nexus S Android phone to use their smartphone as a wallet. This application or app will transform the way clients pay. Once Google Wallet is installed, the Spring Nexus S phone may be used as a contactless (Tap and Pay) device at all PayPass enabled merchant terminals.”

Google Wallet payment terminals have already been spotted at certain retailers, as well, including a Peet’s Coffee shop in San Francisco, which further suggests the service should launch in the very near future. (See image below.)

Google Wallet uses PayPass, a “contactless” payment service from MasterCard that lets its customers “tap” enabled credit cards, keyfobs and now, mobile phones, to compatible readers at payment terminals to pay for services. Google Wallet, which employs NFC and PayPass, will only work with PayPass-enabled Citi MasterCards and no other credit cards at launch, according to reports. And you’ll need a Google Nexus S smartphone running Android v2.3.4 (Gingerbread), to utilize Google Wallet.

via Google Wallet Mobile Payments Coming Very Soon: What It Means for You CIO.com.

MasterCard Gives Sneak Peek Into Mobile Payments Future | PCWorld Business Center

Google Wallet will work on PayPass terminals already deployed in stores, though some of the terminals will need an upgrade to work with the applications, according to officials at the demonstration. In the U.S., there are about 150,000 retail locations equipped with PayPass terminals, according to Kathleen Reilly, vice president and senior business leader at MasterCard, who said the Google Wallet application will be rolled out “within weeks.”

Up to now, the PayPass terminals have worked with NFC chips embedded in cards or special stickers placed on the outside of mobile devices. However, chips embedded in mobile phones offer big advantages, according to Mario Shiliaski, senior vice president of Innovative Platforms.

“A big advantage is that the chips are embedded in secure elements in the hardware, and if they are compromised they are designed to self-destruct,” Shiliaski said.

In addition, there will be a range of complementary applications for the technology that users will be able to download, Shiliaski noted. Google Wallets will initially offer the ability to store electronic coupons that can be redeemed at retail outlets, he said. Later this year, MasterCard’s inControl will be available for download, he added. InControl is designed to let parents or employers establish parameters for when, where and how their cards are used. Users will get text messages, for example, when certain limits are met.

Major retailers including Macy’s, Walgreens, Subway, Noah’s Bagels, American Eagle, Bloomingdale’s, Peet’s Coffee and Toys ‘R’ Us have signed up to work with Google Wallet.

via MasterCard Gives Sneak Peek Into Mobile Payments Future | PCWorld Business Center.

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