Will your phone become your credit card?

TalkBack 2 of 7:

Next »

« Previous

• Thread View
• Flat View

You are clueless

The disturbing trend is Mastercard and Motorola developing fixed and proprietary technologies. It's history repeating itself. Visa and other card companies must develop their own technologies. Same goes for phone makers - they will have to fork over royalties to Motorola or develop their own. Retailers will have devices from competing providers. Users' lose by having to buy a different phone for Visa and MC.
We already have Bluetooth. Each phone has its own unique identifier. In the worst case - which I prefer - user would have to enter a unique transaction code or password and 'send' the transaction to phone company. The user gets short form confirmation - retailer confirms the transaction (manual or done via Bluetooth). Each transaction involves unique codes. No proprietary technologies required. No Credit Card company or Bank required if the Network Carrier wants to get into consumer credit business!!!!
I think the Banks and Credit Card companies are the underdogs in this development. Either they buy in or develop their own cellular networks, or negotiate whatever best deal they can get from the network providers to purchase the credit lines.

Posted by: TrustMe_z   Posted on: 10/13/04 You are currently: a Guest | Members login | Terms of Use

Alert moderator to an offensive message

Subscribe to this discussion via Email or RSS

SponsoredWhite Papers, Webcasts, and Downloads

• Five Steps to Determine When to Virtualize YourServers VMware Server virtualization isn't just for big companies. Entry-level ... Download Now
• The True Costs of Virtual Server Solutions VMware In an economic environment that is repeatedly heralding the message "do ... Download Now
• Virtualization: Architectural Considerations And Other Evaluation Criteria VMware Of the many approaches to x86 systems virtualization available in the ... Download Now