The fundamental reason George couldn 't ditch his wallet is because most of his favorite retailers do not subscribe to his service provider 's payment system. While in Japan and countries like China, South Korea, and India, corporations have been developing partnerships between multiple entities and standardization on the mobile payment platform, the United States hasn 't adapted this method as successfully as it could. According to Gartner, the mobile payment market will increase from $171 billion in 2012 to $646 billion in 2017 worldwide, but the United States only shares 14% in the global payment market and expected to remain the same for the next 5 years. The growth in the market is so significant, there are many stakeholders striving for a share of it. However, instead of cooperating with the service providers and handset vendors, and standardizing the system, the players compete with each other by developing their own technologies, such as Bluetooth Payment System, Closed Loop Mobile Payments, and Cloud-based mobile payment platform. Service providers see the opportunities and try to take advantage of the technology by charging an exchange fee for every transaction made. In order to avoid the exchange fee, retailers have no choice but owning their own payment network. Therefore, George 's new Google Nexus phone couldn 't be used for all these different payment system, and he is stuck with paying the old-fashion way - credit cards.…
i. Throughout the years there has been many advances in communications and technology. In the 1980s the microcomputer revolutionized the way computers were used. They were used only by major information systems applications, but later used by individuals to create spreadsheets. As technology progressed by the 1990s, computers became to be connected with one another through a network. From the early 1980s to the 2000s, we have seen advancement in technology. Computers used to be only stationary, but now are mobile. Processors have gotten smaller yet provide plenty of speed and power. William had stated a good point in that advancement in technology follows Moore’s…
There are various types of electronic categories for the e-commerce system. The most popular type of electronic payment is the digital wallet. By using the digital wallet for paying purchases over the web more efficiently and by eliminating the need repeated information for each purchase. The digital wallet is more secure, and the owner’s information is saved automatically when the information is completed for a purchase. For example; the consumer would not have repeat credit-card information each time they purchase something. Example: Google Checkout.…
This document describes the acquisition of mobile payment software company Square Inc. by Google. The mobile payment industry is one of the fastest growing industries today, with transactions up 60% from last year. Square has established itself as an industry leader within the US, with sales of $110 billion last year. This acquisition would help position Google to capture a significant piece of the estimated $240 billion industry, and Square would strengthen Google’s Wallet division by introducing related technology that could run on more than just Sprint’s limited network. In our report we will complete a SWOT analysis for making this acquisition and look at competitors within the mobile payment industry to both Google Wallet and Square.…
Two very in love teenagers take their life, in order to save their forbidden love, but with the help of whom they thought was keeping their love alive. In the play, Romeo and Juliet written by William Shakespeare, two teenagers from feuding families in Verna, Italy fall in love at first sight. Romeo Montague, of the Montague Family and Juliet Capulet of the Capulet Family. What lesson is learned is to never give a promise you can’t keep, although, this is not taught to Romeo or Juliet, but the Friar who helps them. In William Shakespeare’s play Romeo and Juliet, Friar Laurence is responsible for the tragedy due to his careless, inconsiderate, and sneaky traits he has demonstrating the author’s message that Friar Laurence should have never been…
NEAR FIELD COMMUNICATION allows wireless communication and the exchange of data between digital devices, like smart phones. NFC is somewhat like Bluetooth at first glance. NFC is an extension of radio-frequency identification (RFID) Except NFC is designed for devices that are close in proximity. There are three forms of NFC technology all are similar but communicate in different ways. These include types A, B and, FeliCa. FeliCa is frequently found in Japan. Devices using NFC may be active or passive. A passive device like an NFC tag is like a sign it is designed to transmit information. An active device like a smart phone would not only be able to gather information from things like NFC tags but could also change the information on the tag if authorized.…
When I reflect back 30 years ago, I am struck by how much has changed than by what has remained the same. In the last 30 years, the field of telecommunication has significantly improved. Nothing has transformed more in the last 30 years than communication. The advancements in communication have been enabled by the technological advancements. In the 1970s, people used to use telephones, telegraphs, and teletypes to communicate.…
The raised letters and numbers on the plastic cards are now rarely used or even read. This then gave rise to “skimming” devices that could be used by some unscrupulous persons to electronically scan and save the information from many customers' cards. Techniques such as "skimming," in which criminals capture card information and personal-identification numbers, have existed for years, often on a small scale. A growing security concern with Skimming devices is the possible release of the user’s personal information or location to unauthorized parties. So, what is now needed is a way to increase the security of payment card use at merchant locations.…
Walking into a fast food joint, one expects to be met by a sweet aroma of the delicious foods that are quite appealing. Considering they are supposed to serve customers as fast as they can while at the same time maintaining quality service. Upon entering a fast food restaurant, one would expect to have a view of the whole place in a glance, with counters just around the bend for customers to make their purchase. One would also expect to find people around helping customers make fast purchases as well as clearing tables for people to eat. Without such quality, a fast food restaurant cannot be up to par. Burger King is the fast food restaurant I visited a few days ago, and fortunately did not disappoint my expectations; rather, I was surprised by their smooth, fast service and tasty foods as well as the restaurant itself.…
Technology is growing at a rate that is faster than many of us can imagine. We are very fortunate to be living in such times that everything is at our…
RFI, radio frequency identification and smart card device are tracking device combined with biometric technologies, such as retina scanners, finger print readers, to track more items and people in many different situation. These technologies are combined with each other and with communication systems that enable companies to communicate and share information with other such as customer demands, consumer behavior, inventory level and etc.…
- When you log on to the internet chances are that you are logging on through a…
The global mobile wallet market gets a boost from the increasing smartphone penetration, increasing mobile data usage, and government-led initiatives. The convenient and environment-friendly nature of mobile wallet industry also propels the market. The global market for mobile wallet is segmented based on the industry participants, components, consumer type, functionality, and…
Retailer push location specific information directly to the customer via their smartphone, and get data depending on customer's interaction with beacon!…
There are some interesting devices and trends that are predicted to become available in communication. A new device predicted is a foldable phone that serves as a phone, gaming device and multimedia player. It would also include a biometric optical scanner. A new expected trend is providing computers and cell phones with specialized sensors and software that will make it impossible for thieves to utilize the devices. Another trend mentioned is a $100 fully functional laptop that will allow underdeveloped nations to afford it and connect to the internet. Technology has changed dramatically and quickly through the years; therefore readings about these trends in communication are not surprising or impossible.…