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How mobile phones are making cash obsolete in Africa – The Globe and Mail

When he rolls into a gas station to fill his tank, Barkhad Dahir doesn’t get out of his car. He punches a few buttons on his cellphone and within seconds he has paid for the fuel.

With the same quick keystrokes on his phone, he pays for virtually everything he needs: groceries at the supermarket, a few oranges from a market stall, a shoeshine on the street, a cup of sweet milky tea from a café, and even, if he wants, an afternoon’s worth of khat, a mild drug favoured by many Somalis.

“Everyone here has his own bank, with easy access and no restrictions,” boasts Mr. Dahir, a local journalist. “Even lying in bed, you can be paying your bills.”

Here in one of Africa’s poorest countries, where illiteracy is high and traditional banks are almost non-existent, a mobile revolution has created an informal electronic banking system with more efficiency and convenience than anything in Canada.

In the cities of Somaliland, the future has arrived: cash is disappearing, credit cards are unnecessary, and daily shopping is speedy and digital. Almost every merchant, even hawkers on the street, accepts payment by cellphone.

It’s an innovation that could transform the continent. Africa is already leading the world in the use of mobile money, and its growth is accelerating. In countries such as Kenya, Tanzania and Uganda, mobile-money accounts have become much more widespread than bank accounts. More than 17 million Kenyans (two-thirds of the adult population) are using mobile-money services, mainly to transfer money to family members or business partners in distant locations, but increasingly for bill payments and small loans.

Somaliland, a region in northwestern Somalia that has broken away and declared independence from Mogadishu, has one of the world’s highest rates of digital transactions. Most transactions are on Zaad, a service of the biggest mobile-phone company, Telesom. A survey last year found that the average customer made 34 transactions per month – a higher rate than almost anywhere else in the world.

“I don’t even carry money any more,” says Adan Abokor, a scholar and democracy activist in Somaliland.

“I haven’t seen cash for a long time. Even small payments, like a bus ticket, can be made with Zaad. When my kids are at school and they want a sandwich, I send them the payment by Zaad. It’s immediate – there’s no waiting for it, no counting of cash.”

The system is impressively simple and secure. Subscribers give an occasional lump-sum payment to Telesom and then use this balance to pay merchants digitally. To make a purchase, they dial a three-digit number, enter a four-digit PIN and then enter the merchant’s Zaad number and the amount of the payment. Every merchant – even street vendors – keeps their Zaad numbers prominently displayed. Within moments, the customer and the merchant both receive text messages to confirm the payment and the transaction is done.

Mobile money has also drastically reduced the cost of crime and security for consumers, private companies and government offices. The Coca-Cola branch in Somaliland, for example, is the only cashless Coca-Cola company in Africa. About 80 per cent of its sales to its retail distributors are done through Zaad, while the remainder are done by electronic bank transfers.

“We never handle a single dollar in cash,” says Moustapha Osman Guelleh, chief operating officer of Coca-Cola’s licensed bottler in Somaliland. “We don’t have any issues of having to keep cash in a safe.”

Many companies use Zaad for all of their salary payments to their employees. “It has made life easier for our people,” says Khader Aden Hussein, general manager of the Ambassador Hotel in Hargeisa, who uses Zaad to pay all of his 300 employees and almost half of his suppliers. “What amazes me is that even illiterate people have learned how to use it.”

Of the 3.5 million people in Somaliland, more than 500,000 subscribe to Telesom, and more than half of these subscribers are using Zaad.

via How mobile phones are making cash obsolete in Africa – The Globe and Mail.

Mobile Payments: Why You Can’t Live Without Them – Forbes

While consumers may be happy enough with their payment options, they certainly aren’t 100% happy with the shopping experience as a whole. And mobile payments done right could transform that experience dramatically for the better.

So what exactly about the modern shopping experience needs improvement?

Fixing Coupons and Loyalty Programs

One problem with the current shopping experience is that, while merchants are generally eager to offer customers incentives in the form of loyalty programs, discounts and rewards, many of these offers are handed over at the wrong time: at the register. Instead, these benefits should be communicated early and often, with a personal touch. A good time to inform customers of a deal being offered on, say, a pint of ice cream, would be right when they walk into the grocery store on a hot July afternoon. Even better if the coupon could pop up as they stand in front of the freezer case making a decision. Location-based services embedded in mobile payment apps could put the offers that consumers actually want in their hands at just the right time.

Loyalty and rewards programs also tend to be very generic and rarely provide coupons and deals for the things that customers are actually interested in. For every CVS coupon I get for something that I actually need, I get a yard of paper coupons for things I have no interest in. Mobile payments apps with effective data collection and high-tech targeting capabilities could eliminate this problem (and as a side bonus do away with the paper trail altogether!)

Merging the Online and Offline Worlds

There is no seamless way to move from online browsing to offline shopping, even though many of us do this regularly. Barcode scanners and the like make it fairly simple to showroom items we’re interested from inside a store. And there are a few apps out there (Nordstrom’s comes to mind) that allow customers to quickly select an item for local in-store pickup. But for the most part, once you find an item that you want online, the only way to be sure that a store will carry it is to call around. That’s, frankly, a huge pain. It isn’t even close to the seamless shopping experience that most of us want.

But let’s say you want to locate and buy a particular pair of Ray-Ban sunglasses – pronto. In a perfect world, you’d be able to search a map on your phone and pins would pop up to indicate local stores where you can visit, try them on and buy them right away. Mobile payments apps, designed to connect customers with products, could do exactly this.

Personalizing Shopping

Shopping has become very impersonal. Few people have a relationship with a salesperson who knows their style and preferences and can direct them to the right items at the right prices as soon as they walk in the door. But wouldn’t that be nice? Preferable, certainly, to wandering cavernous stores, fending off pushy salespeople who don’t even bother to learn our names, much less our favorite colors and fabrics.

Online, personalization mainly takes the form of heavy-handed algorithms that are ineffectual if not downright intrusive. Even the internet’s famously creepy retargeting ads, which follow you from site to site flashing the same three pairs of shoes you just looked at on Zappos, don’t really offer anything personal. They’re just showing you what you’ve already seen in the hopes that repetition will sway you to purchase. Sure, retargeting might work now and again, but it definitely doesn’t add up to a better consumer shopping experience.

Mobile could offer a powerful solution to this problem. Imagine if, when you browsed for items on your phone, it suggested similar items and indicated which stores near you carry them. Using sophisticated big data algorithms, smart shopping apps could learn everything from your favorite color to your exact measurements (bypassing the annoying problem of vanity sizing) and even capture your style and preferences with enough accuracy to actively suggest new pieces to add to your wardrobe at the beginning of the shopping season. These are just a few (clothes-focused) examples of how mobile tech could make our shopping experiences significantly more convenient — and fun.

Businesses Want the Same Things as Consumers

The strange thing is that merchants want all three of the things mentioned above — a more effective loyalty program, a successfully merged online/offline experience, and a personalized shopping experience. They know that all of these things will bring them new customers and keep existing ones coming back.

via Mobile Payments: Why You Can’t Live Without Them – Forbes.

via Mobile Payments: Why You Can’t Live Without Them – Forbes.

Big U.S. Retailers Join Forces to Develop Mobile Wallet – WSJ.com

More than a dozen big merchants announced Wednesday their plans to jointly develop a mobile-payments network that will battle similar services from Google Inc. and other companies.

Wal-Mart Stores Inc.,  Target Corp., 7-Eleven Inc. and Sunoco Inc. SUNare among the companies hoping to elbow their way into the burgeoning market that turns smartphones into devices for making purchases.

The push by merchants, called Merchant Customer Exchange, or MCX, is at an early stage, and the companies haven’t set a launch date or hired a chief executive. A CEO search is under way. It isn’t clear how much money each participating merchant is contributing to the network’s development.

Financial institutions and technology firms are pouring billions of dollars into the development of mobile-payment systems that operate as so-called digital wallets.

While few shoppers use their phones as mobile-payment devices, industry executives are convinced that consumers eventually will be just as comfortable buying with their phones as they now are when using credit cards and debit cards.

The technology relies on applications that a customer can download onto a smartphone and then make purchases in a store by tapping the phone against a reader placed by the cash register.

Mobile-payment transactions are expected to surge to an estimated $600 billion world-wide by 2016, up from $172 billion this year, according to market-research firm Gartner Inc. A Federal Reserve report in March said 87% of Americans have a mobile phone. Nearly half of those are smartphones, cellphones with computer applications and Internet access.

Among people with a mobile phone and bank account, 11% used mobile payments in the previous year, the survey found.

The new mobile-payments efforts already is running behind rivals such as the Google effort, called Google Wallet, which began operating last year on the technology company’s Android devices.

Isis, a collaboration of mobile carriers AT&T Inc.,  Deutsche Telekom  T-Mobile USA Inc. unit and the Verizon Wireless joint venture between Verizon Communications  and the U.K.’s Vodafone Group VOD, will start trials later this summer in Salt Lake City and Austin, Texas.

And in another sign of the growing interest in mobile payments, start-up Square Inc. said last week Starbucks Corp.  will invest $25 million in the company and use its technology to eventually process all credit and debit transactions at about 7,000 Starbucks outlets in the U.S.

via Big U.S. Retailers Join Forces to Develop Mobile Wallet – WSJ.com.

We Can See Mobile Payments from Here! — Payments Views from Glenbrook Partners

I attended the Mobile Contactless Payment Innovation Summit in San Francisco last week. The audience included representatives from payments companies, enablers, solution providers and merchants all engaged in mobile payments. Given the constant rate of innovation in mobile payments and recent network incentives for EMV in the US, there was a great deal to talk about.

At Glenbrook we help companies across the payments value chain to understand the future of the market; both the rate of adoption and the value proposition of new offerings are critical. As a result, I was delighted to moderate a panel on mobile and contactless payment innovation with panelists Marc Warshawsky of Bank of America, Peter Ho of Wells Fargo, Ed Busby from ISIS and Oscar Muñoz from CHARGE Anywhere.

Here are some key issues discussed both by the panel and at the event:

Heightened Expectations – As mobile smartphone adoption has exploded, the expectation of mobile payments has grown exponentially. Yet challenges related to technology standards, business models and merchant implementations have slowed progress. Some felt the problem is in consumer education and adoption , but clearly the mobile value proposition has yet to be discovered and defined.

Role of NFC – Throughout the conference, there were vocal detractors and advocates for NFC. Visa, MC and Discover have each laid out a contactless roadmap, providing financial incentives for merchants to deploy contactless (NFC) terminals. The technology is reasonably mature and effective with extensive trials around the globe; ISIS and Google Wallet are examples in the US. Trials demonstrate consistent consumer enthusiasm but handset manufacturers still rarely have NFC chips in new phone models. Why the delay? Most think the problem is in the business model. As long as carriers, handset manufacturers and banks are unclear on how they will realize incremental revenues from mobile payment, there is a hesitation to deploy at scale.

Mobile beyond NFC – Patrick Gauthier from PayPal started his presentation emphasizing the difference between NFC and mobile wallets. He demonstrated that there are other ways to access the wallet. With more active accounts than American Express has cards in hand, PayPal’s cloud-based model is a significant alternative to the physical card-centric NFC approach. Peter Ho discussed Wells Fargo’s experiences with using In2Pay microSD card for Visa payWave transactions attached to a Wells Fargo account as compared to NFC. Either technology supports the desired interaction and he suggested the decisions were more around creating the right consumer experience. Other alternatives to NFC include the barcode model (also known as the Starbucks Example). One constraint to adoption of mobile is the speed at which merchants can implement the technology at POS. Merchants have to sort through the hype, identify mandates and ultimately prioritize their investments.

Are we just sticking a credit card on the phone? – Card issuers in particular were concerned with enabling card transactions over the phone. These models are expensive to merchants as they move card present, in store transactions to what they expect will be card not present interchange. So is there value in a mobile transaction and perhaps even room for more fees? Value in a mobile payment needs to be found in the added functionality brought from the phone. Location, data, computing power and Internet capabilities augment the in-store transaction. Bill Gajda from Visa was clear “it’s about more than replacing a swipe with a tap”.

via We Can See Mobile Payments from Here! — Payments Views from Glenbrook Partners.

via We Can See Mobile Payments from Here! — Payments Views from Glenbrook Partners.

Cashless society: How much would the United States save by ditching paper money? – Slate Magazine

For the sixth year in a row, pennies and nickels cost more to produce in 2011 than they were worth. While the depreciation of the cent and the increased cost of producing coins is an old story, the U.S. Mint did reach a new milestone last year: For the first time in history, both the five-cent and one-cent denominations cost double their value to produce. This gap resulted in more than $116 million—roughly 11.6 billion pennies—in negative seigniorage. That’s enough change to fill Shamu’s tank at Sea World twice over.

Defenders of loose change might say this is nothing more than a trivial editorial gimmick, meaningless both in a larger economic context and relative to the $488.8 million in positive seigniorage the U.S. Mint earned on other types of coins. Of course, they would be right. But the costs associated with coins and paper money extend far beyond the Mint. It takes money to pay for armored transport and to hire cashiers to balance cash drawers. There are also opportunity costs for consumers in taking trips to the ATM or waiting in line while someone makes change at the grocery store, not to mention the price of all the change you’ve lost in your couch.

Those are just the tangible costs of cash. We also must pay for the social ills caused by a physical currency system: underground criminal economies, tax evasion, environmental damage, counterfeiting. Banks lost $35 million worth of “loot” (the official FBI terminology) during 5,628 bank robberies in 2010, and that does not include insurance costs, medical expenses for 18 injured victims, and the immeasurable value of lost human life. And that’s chump change compared to Uncle Sam’s tax gap over the past decade, which has been estimated at $3 trillion. More than one half that gap is attributable to underreporting of business income and much of that stems from unreported or underreported cash—that great little cash-only Italian place down the block might not be paying its taxes in full.

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How would it affect the economy if we ditched coins and bills altogether?

via Cashless society: How much would the United States save by ditching paper money? – Slate Magazine.

via Cashless society: How much would the United States save by ditching paper money? – Slate Magazine.

Payments Company Jumio Raises $25.5M From Andreessen Horowitz; Will Hit $100M In 2012 Revenue | TechCrunch

Disruptive mobile and online payments startup Jumio has raised $25.5 million in Series B funding led by Andreessen Horowitz. The firm’s General Partner Scott Weiss has joined Jumio’s board of directors. Jumio’s earlier investors include Facebook co-founder Eduardo Saverin Peng T. Ong, partner at GSR Ventures and founder of Match.com and Vivek Ranadivé, founder of TIBCO. Founded by Daniel Mattes in 2010, Jumio has raised $32 million to date. We previously reported the most recent raise, which was disclosed in an SEC filing, but the new investors were unknown.Mattes, who sold his latest company, Jajah, to Telefonica for $207 million, founded Jumio because he felt that existing online payments solutions both presented a security risk and caused churn, as most people didn’t want to input their credit card and payments details by hand for each transaction made on a phone or online.Jumio’s first product Netswipe, debuted last year in Europe as a technology that allows e-commerce site owners and Internet retailers to process online and mobile payments by having customers ‘swipe’ their credit cards using virtually any webcam. Basically, the webcam uses Jumio’s patent-pending technology to scan and read the card so that the payments can be made.To complete a transaction, consumers briefly hold their credit card in front of their webcam. Through secure videostreaming, the credit card details are recognized and verified: no snapshot image is taken, no data is stored on the computer used for the payment, making the technology extremely secure, explains Mattes. Credit card info is streamed to Jumio’s servers.The benefit to Netswipe is that it minimizes the time between a customer’s decision to purchase something online and making a transaction, cuts down on the friction of entering credit card information and reducing fraud. The technology also comes with a complimentary mobile solution, which works similarly to the web platform. You simply use the phone’s camera to take a short video of the credit card, and the payments data is captured. As Mattes tells us, the main IP for Jumio is centered around computer vision technology that makes the process fast and secure.It’s important to note that Jumio isn’t the only company trying to disrupt credit card scanning technologies. Card.io, a startup that develops mobile applications also capable of scanning credit cards using smartphone cameras. But Jumio aims to tackle both web and mobile payments.In terms of how Jumio makes money, the startup takes a percentage of transaction, which depends on size of merchants. This falls anywhere between 0.8 and 3.5 per transactions, and there is no per transaction fee. For distribution, Jumio will partner directly with large-scale retailers to implement the technology in the payments and checkout process as well as with payments service providers and processors to reach small and medium-sized online businesses.

via Payments Company Jumio Raises $25.5M From Andreessen Horowitz; Will Hit $100M In 2012 Revenue | TechCrunch.

via Payments Company Jumio Raises $25.5M From Andreessen Horowitz; Will Hit $100M In 2012 Revenue | TechCrunch.

Isis Reveals New POS Partnerships With Verifone, Ingenico And ViVOtech | TechCrunch

Straight on the heels of showing off their new mobile payments system, the carriers leading the Isis joint venture have announced new partnerships with payment solutions providers. At Mobile World Congress Isis revealed partnerships with Chase, Capital One and Barclaycard, and it seems we’ll now be adding Verifone, Ingenico, VivoTech, and Equinox to the list.

This should help spread the mobile wallet revolution and help enable NFC payments at a point-of-sale level. Obviously these types of partnerships and implementations will be necessary to the whole scale adoption of mobile payments.

Here’s what Isis CTO Scott Mulloy had to say:

“Payment systems suppliers provide critical infrastructure for the development of mobile commerce. Today’s announcement is an important step in enabling NFC technology adoption throughout the mobile commerce industry. It also validates the open platform approach being offered by Isis across multiple business sectors.

Verifone is known for POS hardware and technology, while Ingenico is focused on secure electronic transactions at point-of-sale. Meanwhile, VivoTech is an NFC-centric company and Equinox primarily handles transaction processing, so the partnerships make sense in terms of what’s needed for Isis to take off. It’s this trio that will work with merchants and vendors to set them up with the hardware needed to offer contactless payments.

Right now three of our top four carriers have signed on with Isis, including AT&T, T-Mobile, and Verizon. Sprint, on the other hand, is on the Google Wallet team.

via Isis Reveals New POS Partnerships With Verifone, Ingenico And ViVOtech | TechCrunch.

via Isis Reveals New POS Partnerships With Verifone, Ingenico And ViVOtech | TechCrunch.

Facebook’s New Initiative Promises to Make Cross-Platform Mobile Payments Real | Epicenter | Wired.com

At the Mobile World Congress on Monday, Facebook announced several new initiatives to battle fragmentation on the mobile web. The most intriguing may be a partnership with global wireless carriers — including AT&T, T-Mobile and Verizon in the U.S. — to streamline mobile purchases for webapps using Facebook’s login and payment platforms.

In this agreement, Facebook would be the intermediary between its web developer and wireless carrier partners. Customers purchasing goods through web apps equipped with Facebook’s Pay Dialog wouldn’t have to prepurchase Facebook credits; instead, they’d be billed by their wireless providers. Developers would deal with Facebook; Facebook would deal with the carriers — with its Payments and Credits platform translating between the two on the transaction.

As a Facebook spokesperson told Wired, right now this program is “more vision than reality”; it hasn’t been fully implemented, and many of the details still have to be worked out between all the partners in the coming months.

The vision, though, is spelled out in a blog post by Facebook Director of Developer Relations Doug Purdy: to “minimize the number of steps needed to complete a transaction in mobile web apps, which will make it easier for hundreds of millions of people worldwide to purchase apps on their device via operator billing.” Besides the Big Three carriers in the U.S., announced partners include Deutsche Telekom, Orange, Telefónica, Vodafone, KDDI, and Softbank Mobile.

The carrier payment partnerships also part of a broader effort by Facebook to make mobile app development easier (and make partnership with Facebook more appealing to developers):

Facebook is extending its social app discovery feature to include native Android apps in addition to iOS and web apps;

It’s joining the W3C’s Mobile Web Platform Core Community Group, “to help accelerate the improvement and standardization of mobile browsers”;

It’s immediately contributing a cross-platform mobile web test suite called Ringmark.

The payments initiative, however, is the most ambitious and has the most potential to turn into a serious revenue stream for Facebook and its partners.

via Facebook’s New Initiative Promises to Make Cross-Platform Mobile Payments Real | Epicenter | Wired.com.

via Facebook’s New Initiative Promises to Make Cross-Platform Mobile Payments Real | Epicenter | Wired.com.

No Plastic Needed: Consumers and the Future of Mobile Payments

Should Consumers Hop on the Mobile Bandwagon?

Early adopters will be getting in line for Google Wallet and carrier-led rival mobile payment platform Isis. But the average consumer might not be far behind. Its not just convenient and the high-tech cool to “touch-and-go” pay with your phone.

Mobile payments have practical, valuable benefits that may compel everyday consumers to toss their trifold for a mobile wallet.Interaction with your spending — With the average consumer facing $6,285 in credit card debt, according to CreditKarma.com, mobile wallets can take on a sort of “financial conscience” to curb debt and encourage financial responsibility. Interaction with a digital interface, rather than a flat plastic card, opens the door to integrated apps and services for budgeting and real-time account tracking.

For example, MasterCards mobile payment app has built-in money management features such as options to set spending limits and alerts, approve or block purchases in a category, and enable overseas activity. While some credit cards offer activity monitoring online, mobile payments are real-time and preemptive. A spending alert popping up before you make a payment on your phone is harder to ignore than a credit card statement at the end of the month.Integrated shopping opportunities —

To really push adoption, mobile payments cant rely on contactless payments alone. Smartphones cant just be bulkier, digital credit cards. The beauty of mobile payments is its intersection with mobile commerce. Take Google Wallets “integrated experience” that combines deals, location-specific advertising, as well as payments.

Value-added services for both consumers and merchants are the real staying power for mobile payments. For consumers, that means targeted offers and discounts, inventory searches and shopping solutions like hyper-local deals. For merchants, theres potential for customer tracking, purchasing data, and cost-effective advertising. Mobile payments arent just a way to spend your money; it converges ways to save money, track money and shop differently.

Convenience when you shop — As we log hundreds of face-to-screen hours daily and carry cellphones everywhere, mobile payments goes beyond consolidating accessories. Mobile payment platforms remove the physical limitations on where you can pay, how you pay, and to whom. Mobile payments streamline payments, making them faster at checkout through easy payment transfers such as Near Field Communications NFC technology. Across the five main types of mobile payments, the dominant payment trends will be the ones that allow consumers to make the easiest payments wherever they are, which is increasingly not in a physical store or with cash or credit card in hand.

Better security — 1 in 10 U.S. consumers is a victim of identity theft, reports Javelin Strategy & Research. Mobile payments can help stymie these numbers with improved security over traditional credit cards thanks to two-factor authentication, meaning youll need your phone as well as a PIN number in order to complete a transaction. Credit cards have one-factor authentication, in which you only need the card at point of sale, swipe, and the transaction is complete. Security measures for mobile payments will likely improve in leaps and bounds, especially under pressure from regulators and consumer watchdogs. For example, Google Wallet fortified its security measures by storing credit card data on a computer chip in the phones hardware, isolated from the phones hacker-vulnerable operating system software. Plus, smartphones offer apps that remotely lock and erase the phones data in the case of loss. A lost or stolen wallet simply doesnt have the same safeguards as a lost smartphone.

via Justine Rivero: No Plastic Needed: Consumers and the Future of Mobile Payments.

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.

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