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Will Smartphones Replace Your Wallet?

credit sesame BY: Will Smartphones Replace Your Wallet? www.creditsesame.com Mobile Madness As more and more people become armed with smartphones, mobile payments will also become increasingly commonplace. The value of purchases via mobile phones is expected to increase at a compound annual growth rate of 68% between 2010 and 2015. 66 Mobile payment is going to get really interesting and is going to see a lot of activity in 2011. We're going to start seeing more and more people leaving their homes without their wallets, Spending via Smartphone $214 billion $162 billion $119 billion $81 billion - George Peabody Director of Emerging Technologies at Mercator Advisory Group $46 billion $16 billion 2010 2011 2012 2013 2014 2015 Mobile payments as a whole will reach: $633 billion 490 million in 2014 users Paper Money: A Thing of the Past FORECASTED CHANGE IN CASH USE 2011 2012 2013 2014 2015 -$30 b -$35 billion -$36 billion -$41 billion -$42 billion -$45 billion Over the next five years, cash use will decrease $200 billion in the U.S. Transactions that are made by scanning a mobile phone at the register are expected to reach Mobile Payments: the New Normal? $22 billion in 2015. That does not include transactions The following companies and apps currently accommodate smartphone transactions: made through smartphone Internet browsers or apps. STARBUCKS launched its mobile pay program nationwide earlier this year, allowing customers to make purchases by scanning a code (generated by the Starbucks mobile app) at the register. VENMO is an app that allows users to wire cash to their friends venmo via text. Use it to deposit cash directly into a friend's bank account instead of splitting up a restaurant bill across 5 different credit cards. BUMP allows you to exchange money, bump as well as information, with others by bumping your phones together. SERVE is Amex's first attempt at becoming a main player in the mobile-payment sector. Their website dubs it the "virtual wallet." serve" Use it to make payments as well exchange money with others. ..... intuIt GO PAYMENT is a credit card payment service that allows merchants to get paid through their iPhones. To complete a mobile transaction, customers swipe their credit cards through a device attached directly to the merchant's iPhone. There are no monthly fees, just a small fee with each swipe. The Future of Mobile Payment THE NEAR FUTURE THE NOT-SO-DISTANT FUTURE Google is currently developing a mobile payment platform with Near Field Communication is the technology that has the mobile payment market abuzz right now. MasterCard and Citi. %24 NFC swaps data across short distances. This means that you simply place your smartphone in close proximity to an NFC reader and the transaction is made. Google But bank information isn't the only thing NFC can transfer. Consider the following wallet- ditching applications: RETAILER It is rumored that Google may be developing this technology for the next Android. Tickets: airline, concerts cítì Identity Documents: driver's license, passport MasterCard Electronic Keys: could replace car keys, house keys, hotel-room keys Sources: aitegroup.com, mashable.com, money.cnn.com, walletpop.com %24 %24 credit sesame BY: Will Smartphones Replace Your Wallet? www.creditsesame.com Mobile Madness As more and more people become armed with smartphones, mobile payments will also become increasingly commonplace. The value of purchases via mobile phones is expected to increase at a compound annual growth rate of 68% between 2010 and 2015. 66 Mobile payment is going to get really interesting and is going to see a lot of activity in 2011. We're going to start seeing more and more people leaving their homes without their wallets, Spending via Smartphone $214 billion $162 billion $119 billion $81 billion - George Peabody Director of Emerging Technologies at Mercator Advisory Group $46 billion $16 billion 2010 2011 2012 2013 2014 2015 Mobile payments as a whole will reach: $633 billion 490 million in 2014 users Paper Money: A Thing of the Past FORECASTED CHANGE IN CASH USE 2011 2012 2013 2014 2015 -$30 b -$35 billion -$36 billion -$41 billion -$42 billion -$45 billion Over the next five years, cash use will decrease $200 billion in the U.S. Transactions that are made by scanning a mobile phone at the register are expected to reach Mobile Payments: the New Normal? $22 billion in 2015. That does not include transactions The following companies and apps currently accommodate smartphone transactions: made through smartphone Internet browsers or apps. STARBUCKS launched its mobile pay program nationwide earlier this year, allowing customers to make purchases by scanning a code (generated by the Starbucks mobile app) at the register. VENMO is an app that allows users to wire cash to their friends venmo via text. Use it to deposit cash directly into a friend's bank account instead of splitting up a restaurant bill across 5 different credit cards. BUMP allows you to exchange money, bump as well as information, with others by bumping your phones together. SERVE is Amex's first attempt at becoming a main player in the mobile-payment sector. Their website dubs it the "virtual wallet." serve" Use it to make payments as well exchange money with others. ..... intuIt GO PAYMENT is a credit card payment service that allows merchants to get paid through their iPhones. To complete a mobile transaction, customers swipe their credit cards through a device attached directly to the merchant's iPhone. There are no monthly fees, just a small fee with each swipe. The Future of Mobile Payment THE NEAR FUTURE THE NOT-SO-DISTANT FUTURE Google is currently developing a mobile payment platform with Near Field Communication is the technology that has the mobile payment market abuzz right now. MasterCard and Citi. %24 NFC swaps data across short distances. This means that you simply place your smartphone in close proximity to an NFC reader and the transaction is made. Google But bank information isn't the only thing NFC can transfer. Consider the following wallet- ditching applications: RETAILER It is rumored that Google may be developing this technology for the next Android. Tickets: airline, concerts cítì Identity Documents: driver's license, passport MasterCard Electronic Keys: could replace car keys, house keys, hotel-room keys Sources: aitegroup.com, mashable.com, money.cnn.com, walletpop.com %24 %24 credit sesame BY: Will Smartphones Replace Your Wallet? www.creditsesame.com Mobile Madness As more and more people become armed with smartphones, mobile payments will also become increasingly commonplace. The value of purchases via mobile phones is expected to increase at a compound annual growth rate of 68% between 2010 and 2015. 66 Mobile payment is going to get really interesting and is going to see a lot of activity in 2011. We're going to start seeing more and more people leaving their homes without their wallets, Spending via Smartphone $214 billion $162 billion $119 billion $81 billion - George Peabody Director of Emerging Technologies at Mercator Advisory Group $46 billion $16 billion 2010 2011 2012 2013 2014 2015 Mobile payments as a whole will reach: $633 billion 490 million in 2014 users Paper Money: A Thing of the Past FORECASTED CHANGE IN CASH USE 2011 2012 2013 2014 2015 -$30 b -$35 billion -$36 billion -$41 billion -$42 billion -$45 billion Over the next five years, cash use will decrease $200 billion in the U.S. Transactions that are made by scanning a mobile phone at the register are expected to reach Mobile Payments: the New Normal? $22 billion in 2015. That does not include transactions The following companies and apps currently accommodate smartphone transactions: made through smartphone Internet browsers or apps. STARBUCKS launched its mobile pay program nationwide earlier this year, allowing customers to make purchases by scanning a code (generated by the Starbucks mobile app) at the register. VENMO is an app that allows users to wire cash to their friends venmo via text. Use it to deposit cash directly into a friend's bank account instead of splitting up a restaurant bill across 5 different credit cards. BUMP allows you to exchange money, bump as well as information, with others by bumping your phones together. SERVE is Amex's first attempt at becoming a main player in the mobile-payment sector. Their website dubs it the "virtual wallet." serve" Use it to make payments as well exchange money with others. ..... intuIt GO PAYMENT is a credit card payment service that allows merchants to get paid through their iPhones. To complete a mobile transaction, customers swipe their credit cards through a device attached directly to the merchant's iPhone. There are no monthly fees, just a small fee with each swipe. The Future of Mobile Payment THE NEAR FUTURE THE NOT-SO-DISTANT FUTURE Google is currently developing a mobile payment platform with Near Field Communication is the technology that has the mobile payment market abuzz right now. MasterCard and Citi. %24 NFC swaps data across short distances. This means that you simply place your smartphone in close proximity to an NFC reader and the transaction is made. Google But bank information isn't the only thing NFC can transfer. Consider the following wallet- ditching applications: RETAILER It is rumored that Google may be developing this technology for the next Android. Tickets: airline, concerts cítì Identity Documents: driver's license, passport MasterCard Electronic Keys: could replace car keys, house keys, hotel-room keys Sources: aitegroup.com, mashable.com, money.cnn.com, walletpop.com %24 %24 credit sesame BY: Will Smartphones Replace Your Wallet? www.creditsesame.com Mobile Madness As more and more people become armed with smartphones, mobile payments will also become increasingly commonplace. The value of purchases via mobile phones is expected to increase at a compound annual growth rate of 68% between 2010 and 2015. 66 Mobile payment is going to get really interesting and is going to see a lot of activity in 2011. We're going to start seeing more and more people leaving their homes without their wallets, Spending via Smartphone $214 billion $162 billion $119 billion $81 billion - George Peabody Director of Emerging Technologies at Mercator Advisory Group $46 billion $16 billion 2010 2011 2012 2013 2014 2015 Mobile payments as a whole will reach: $633 billion 490 million in 2014 users Paper Money: A Thing of the Past FORECASTED CHANGE IN CASH USE 2011 2012 2013 2014 2015 -$30 b -$35 billion -$36 billion -$41 billion -$42 billion -$45 billion Over the next five years, cash use will decrease $200 billion in the U.S. Transactions that are made by scanning a mobile phone at the register are expected to reach Mobile Payments: the New Normal? $22 billion in 2015. That does not include transactions The following companies and apps currently accommodate smartphone transactions: made through smartphone Internet browsers or apps. STARBUCKS launched its mobile pay program nationwide earlier this year, allowing customers to make purchases by scanning a code (generated by the Starbucks mobile app) at the register. VENMO is an app that allows users to wire cash to their friends venmo via text. Use it to deposit cash directly into a friend's bank account instead of splitting up a restaurant bill across 5 different credit cards. BUMP allows you to exchange money, bump as well as information, with others by bumping your phones together. SERVE is Amex's first attempt at becoming a main player in the mobile-payment sector. Their website dubs it the "virtual wallet." serve" Use it to make payments as well exchange money with others. ..... intuIt GO PAYMENT is a credit card payment service that allows merchants to get paid through their iPhones. To complete a mobile transaction, customers swipe their credit cards through a device attached directly to the merchant's iPhone. There are no monthly fees, just a small fee with each swipe. The Future of Mobile Payment THE NEAR FUTURE THE NOT-SO-DISTANT FUTURE Google is currently developing a mobile payment platform with Near Field Communication is the technology that has the mobile payment market abuzz right now. MasterCard and Citi. %24 NFC swaps data across short distances. This means that you simply place your smartphone in close proximity to an NFC reader and the transaction is made. Google But bank information isn't the only thing NFC can transfer. Consider the following wallet- ditching applications: RETAILER It is rumored that Google may be developing this technology for the next Android. Tickets: airline, concerts cítì Identity Documents: driver's license, passport MasterCard Electronic Keys: could replace car keys, house keys, hotel-room keys Sources: aitegroup.com, mashable.com, money.cnn.com, walletpop.com %24 %24 credit sesame BY: Will Smartphones Replace Your Wallet? www.creditsesame.com Mobile Madness As more and more people become armed with smartphones, mobile payments will also become increasingly commonplace. The value of purchases via mobile phones is expected to increase at a compound annual growth rate of 68% between 2010 and 2015. 66 Mobile payment is going to get really interesting and is going to see a lot of activity in 2011. We're going to start seeing more and more people leaving their homes without their wallets, Spending via Smartphone $214 billion $162 billion $119 billion $81 billion - George Peabody Director of Emerging Technologies at Mercator Advisory Group $46 billion $16 billion 2010 2011 2012 2013 2014 2015 Mobile payments as a whole will reach: $633 billion 490 million in 2014 users Paper Money: A Thing of the Past FORECASTED CHANGE IN CASH USE 2011 2012 2013 2014 2015 -$30 b -$35 billion -$36 billion -$41 billion -$42 billion -$45 billion Over the next five years, cash use will decrease $200 billion in the U.S. Transactions that are made by scanning a mobile phone at the register are expected to reach Mobile Payments: the New Normal? $22 billion in 2015. That does not include transactions The following companies and apps currently accommodate smartphone transactions: made through smartphone Internet browsers or apps. STARBUCKS launched its mobile pay program nationwide earlier this year, allowing customers to make purchases by scanning a code (generated by the Starbucks mobile app) at the register. VENMO is an app that allows users to wire cash to their friends venmo via text. Use it to deposit cash directly into a friend's bank account instead of splitting up a restaurant bill across 5 different credit cards. BUMP allows you to exchange money, bump as well as information, with others by bumping your phones together. SERVE is Amex's first attempt at becoming a main player in the mobile-payment sector. Their website dubs it the "virtual wallet." serve" Use it to make payments as well exchange money with others. ..... intuIt GO PAYMENT is a credit card payment service that allows merchants to get paid through their iPhones. To complete a mobile transaction, customers swipe their credit cards through a device attached directly to the merchant's iPhone. There are no monthly fees, just a small fee with each swipe. The Future of Mobile Payment THE NEAR FUTURE THE NOT-SO-DISTANT FUTURE Google is currently developing a mobile payment platform with Near Field Communication is the technology that has the mobile payment market abuzz right now. MasterCard and Citi. %24 NFC swaps data across short distances. This means that you simply place your smartphone in close proximity to an NFC reader and the transaction is made. Google But bank information isn't the only thing NFC can transfer. Consider the following wallet- ditching applications: RETAILER It is rumored that Google may be developing this technology for the next Android. Tickets: airline, concerts cítì Identity Documents: driver's license, passport MasterCard Electronic Keys: could replace car keys, house keys, hotel-room keys Sources: aitegroup.com, mashable.com, money.cnn.com, walletpop.com %24 %24

Will Smartphones Replace Your Wallet?

shared by amie on May 16
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These days cell phones are capable of nearly any feat. Streaming live music, sending and receiving emails, and soon making payments!? This infographic looks at the possibility of smartphones soon re...

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