{"id":32551,"date":"2012-11-17T17:00:14","date_gmt":"2012-11-17T17:00:14","guid":{"rendered":"http:\/\/alienbabeltech.com\/main\/?p=32551"},"modified":"2012-11-17T17:07:34","modified_gmt":"2012-11-17T17:07:34","slug":"smartphone-purchasing-its-for-more-than-just-coffee","status":"publish","type":"post","link":"http:\/\/alienbabeltech.com\/main\/smartphone-purchasing-its-for-more-than-just-coffee\/","title":{"rendered":"Smartphone Purchasing \u2026 It\u2019s for More than Just Coffee"},"content":{"rendered":"<p style=\"text-align: center;\" align=\"left\"><script type=\"text\/javascript\">\/\/ <![CDATA[\n                                                            google_ad_client = \"pub-7021221536180758\"; \/* 468x60, created 11\/11\/09 *\/ google_ad_slot = \"1949837292\"; google_ad_width = 468; google_ad_height = 60;\n\/\/ ]]><\/script><script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\/\/ <![CDATA[\n\n\/\/ ]]><\/script><\/p>\n<div class=\"mceTemp mceIEcenter\"><\/div>\n<div class=\"mceTemp mceIEcenter\"><\/div>\n<h2 style=\"text-align: center;\"><strong>Pocket Change<\/strong><\/h2>\n<p><strong>\u00a0<\/strong><\/p>\n<div id=\"attachment_32552\" style=\"width: 302px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-32552\" class=\"size-full wp-image-32552\" title=\"Untitled-1\" src=\"http:\/\/i2.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-12.jpg?resize=292%2C179\" alt=\"\" data-recalc-dims=\"1\" \/><p id=\"caption-attachment-32552\" class=\"wp-caption-text\">Image Source - \u201cFun with Dick and Jane,\u201d Columbia Pictures<\/p><\/div>\n<p style=\"text-align: center;\"><em>\u201c<\/em><em>We just robbed your safe.\u201d<\/em> <strong>\u2013 Dick Harper, \u201cFun with Dick and Jane,\u201d Columbia Pictures, 1977<\/strong><strong><\/strong><\/p>\n<p>Have any of you looked at your bank account lately?<\/p>\n<p>Just curious, because we have no idea why half of the world seems to be hell-bent on getting us to take a giant leap into the mCommerce universe.<\/p>\n<p>You know, mobile banking, mobile device payments.<\/p>\n<p>Some fortune tellers are really reaching when firms like Juniper Research says <em>\u201cOMG, how great it is. Just look 530M consumers <strong>will <\/strong>embrace mobile banking, up from 300M last year.\u201d<\/em><\/p>\n<p>That\u2019s great, but there are seven billion + people on the planet and if Jupiter only classifies half of them as consumers, that means roughly 6.5B <strong><em>don\u2019t<\/em><\/strong> embrace mobile banking.<\/p>\n<p>Governmental and financial institutions are trying to convince consumers that mobile transactions are a good thing.<\/p>\n<p>The Federal Reserve Board (Fed), which can\u2019t seem to figure out how to fix the U.S. economy, says that mobile financial services will transform the American financial landscape.<\/p>\n<p>Actually, they\u2019ve done a pretty good job of that already.<\/p>\n<p>The Fed uses a positive spin \u2013 one outta\u2019 five people already use their mobile phones to access their bank account, credit card(s) and other financial services.<\/p>\n<p>That also means four out of five said they\u2019ll keep their money\/credit cards and save their phones for Tweeting, catching up on the scores, watching <em>The Big Bang Theory, Dallas<\/em> or something equally educational.<\/p>\n<p><strong>No Bank, No Problem<\/strong><\/p>\n<p>A bunch of industry players are focusing on what they call the underbanked (prepaid credit cards but on the phone).<\/p>\n<p>Nokia tried to emulate M-Pea\u2019s micropayment success in Kenya with a mobile financial services unit to handle person-to-person payments, merchant\/utility payments and prepaid SIM (subscriber identity module) cards.<\/p>\n<p>After years of bleeding red ink, they finally put the beast down.<\/p>\n<p>But don\u2019t think Nokia\u2019s misery dampened the dreams of everyone else in the financial services industry.<\/p>\n<p>It\u2019s going to be big bucks \u2026 someday.<\/p>\n<p>That\u2019s why <strong><em>everyone<\/em><\/strong> is in the game.<\/p>\n<p>Every bank, credit\/debit card company and financial institution has some form of play.<\/p>\n<p>Tech industry players like Google, Microsoft, Sprint, Verizon and Apple have their solution(s) that are in the best interest of the merchant and consumer.<\/p>\n<p>Then there are the \u201clittle people\u201d \u2013 GoPago, Svcngr, Square, Wipit, PreCash, PayAnywhere and tons of \u201csecure\u201d apps.<\/p>\n<blockquote><p><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-32553\" title=\"Untitled-2\" src=\"http:\/\/i1.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-22.jpg?resize=420%2C254\" alt=\"\" srcset=\"http:\/\/i1.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-22.jpg?resize=420%2C254 420w, http:\/\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-22-300x181.jpg 300w\" sizes=\"auto, (max-width: 420px) 100vw, 420px\" data-recalc-dims=\"1\" \/>Square Options \u2013 <\/strong><em>Square has taken the two-pronged approach to handling mobile payments. They have a small card reader available for merchants to use in scanning your credit card (signing on the screen) for fast, convenient credit\/debit card transactions. It\u2019s very appealing to small businesses because there are no front-end costs and small transaction fee. Or, if you prefer, you can use their app on your phone and carry out a fast NFC (near field communication) transaction. <\/em><strong>Images &#8211; Square<\/strong><\/p><\/blockquote>\n<p><strong>\u00a0<\/strong>Square is playing both sides of the street with a card reader for small merchants and a dedicated android, iOS app for consumers. Their newest partner, part-owner Starbucks, loves the app approach since they are the mobile payment success folks like to point to and say, <em>\u201cYep, really works.\u201d<\/em><\/p>\n<p>Of course, the handshake investment\/relationship between Starbuck\u2019s CEO Howard Schultz and Square\u2019s boss, Jack Dorsey, automatically moves Square toward instant credibility.<\/p>\n<p>By the end of the year, Square\u2019s app will be accepted Starbuck\u2019s 11,000 store fronts in addition to its present 75,000 merchants.<\/p>\n<p><strong>Bridging the Chasm<\/strong><\/p>\n<p>Square uses a bridging approach that could help both buyers and sellers cross Geoffrey Moore\u2019s Chasm.<\/p>\n<p>Want to leap across?<\/p>\n<p>You\u2019re probably already using your phone for banking and payments whenever possible.<\/p>\n<p><strong><em>BAM!!<\/em><\/strong> You\u2019ll have an app that will be accepted almost everywhere, especially if you like lots of coffee.<\/p>\n<p>Want to take your time until the bridge is built?<\/p>\n<p>Use your card with their reader.<\/p>\n<p>As you get more and more comfortable with seeing folks use the phone\/card combo then you can slowly, painfully lose interest in your cards.<\/p>\n<p>The scary part of the Square solution for consumers is that the business can have an app on one of their iPads and can \u201csee\u201d you have their app on your smartphone.<\/p>\n<p>That will produce very selective marketing &#8212; slipping promos, coupons and whatever onto your phone, letting you know how special you are.<\/p>\n<p>Of course, some folks will say, <em>\u201cIs that your smartphone or are you really glad to see me?\u201d<\/em><\/p>\n<p>It\u2019ll happen. It\u2019s just a matter of time.<\/p>\n<p>In the future, you\u2019ll probably wonder what money really was.<\/p>\n<p>Ultimately, mobile wallets will gain wide acceptance. It\u2019s just that the communications and financial industries have a lot of work to do to convince consumers to adopt and adapt.<\/p>\n<p>African and Pacific Basin citizens have been fast to accept the convenience \u2013 they never trusted plastic in the first place \u2013 but people in the Americas and EU still like to feel their money.<\/p>\n<p><strong>Early Interest<\/strong><\/p>\n<p>According to a report early this year, about one-quarter of American consumers are interested in using some form of mobile wallet for purchases in stores.<\/p>\n<p align=\"center\"><strong>Consumer Interest in Using Mobile Wallet Technology<\/strong><\/p>\n<div id=\"attachment_32554\" style=\"width: 338px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-31.jpg\"><strong><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-32554\" class=\" wp-image-32554\" title=\"Untitled-3\" src=\"http:\/\/i0.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-31.jpg?resize=328%2C161\" alt=\"\" srcset=\"http:\/\/i0.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-31.jpg?resize=328%2C161 328w, http:\/\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-31-300x147.jpg 300w\" sizes=\"auto, (max-width: 328px) 100vw, 328px\" data-recalc-dims=\"1\" \/><\/strong><\/a><p id=\"caption-attachment-32554\" class=\"wp-caption-text\">Source - Catapult<\/p><\/div>\n<blockquote><p><strong>No Thanks<\/strong><em> &#8211; The vast majority of people still aren\u2019t interested in using mobile wallet applications and transactions because they see no real benefits and there are still too many obstacles. <\/em><strong>Source &#8211; Catapult<\/strong><\/p><\/blockquote>\n<p>That means 58 percent totally weren\u2019t interested (41 percent had less than zero interest).<\/p>\n<p>Their biggest concerns? The obvious \u2013 privacy and security.<\/p>\n<p>You know, like retailers\/financial institutions using the Big Data to track your buying habits so they can determine\/project what you might be interested in next.\u00a0 There are also folks who are already learning how to perfect smartphone theft.<\/p>\n<p>They look at your phone and repeat Charlie Blanchard\u2019s statement to it, <em>\u201c<\/em><em>You can tell me anything.\u201d<\/em><\/p>\n<p>An overwhelming 91 percent of the people surveyed worried about maintaining their privacy.<\/p>\n<p>As for security, most people will probably continue the practice they\u2019ve perfected with all of their devices \u2026 security is the IT\u2019s, bank\u2019s\/financial institution\u2019s, government\u2019s problem, not yours or mine!<\/p>\n<p>Then too, there\u2019s the issue of how useful the technology is really going to be for ordinary people (not institutions).<\/p>\n<p align=\"center\"><strong>Perceived Benefits of Using Mobile Wallet Technology<\/strong><\/p>\n<p align=\"center\"><strong>to Pay for Items In-Store<em><\/em><\/strong><\/p>\n<div id=\"attachment_32555\" style=\"width: 338px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/i2.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-41.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-32555\" class=\"size-full wp-image-32555\" title=\"Untitled-4\" src=\"http:\/\/i2.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-41.jpg?resize=328%2C240\" alt=\"\" srcset=\"http:\/\/i2.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-41.jpg?resize=328%2C240 328w, http:\/\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-41-300x219.jpg 300w\" sizes=\"auto, (max-width: 328px) 100vw, 328px\" data-recalc-dims=\"1\" \/><\/a><p id=\"caption-attachment-32555\" class=\"wp-caption-text\">Source - Catapult<\/p><\/div>\n<blockquote><p><strong>Oh Goodie<\/strong><em> &#8211; People who are interested in changing over to tomorrow\u2019s mobile wallet feel it will be more convenient, will get them more coupons\/free stuff and even get them out of the store faster. But they are still in the minority.<\/em><\/p><\/blockquote>\n<p><strong>\u00a0<\/strong>About one-third of the people interviewed thought \u2013 for some reason \u2013 mobile wallets would be a more convenient way to pay.<\/p>\n<p>Twenty-eight percent said they could have coupons sent right to their phone (there goes privacy) and 24 percent thought it was going to be faster to checkout.<\/p>\n<p>However, more than half didn\u2019t see the benefits of using a mobile wallet.<\/p>\n<p>A really big deterrent for everyone is confusion.<\/p>\n<p>There are too many mobile wallet, digital payment options out there right now and more coming every day.<\/p>\n<p><strong>Look Before Signing<\/strong><\/p>\n<p>The range of fees and consumer protection in the event of accidental or fraudulent charges is mysterious at best.<\/p>\n<p>Consumer Reports recently noted that about 300M non-cash transactions <strong>every day<\/strong> don\u2019t go as planned \u2013 unauthorized charges, billing errors, non-credited payment, etc.<\/p>\n<p>Most prepaid cards don\u2019t offer any guaranteed protection. Even Visa and MasterCard have loophole guarantees.<\/p>\n<p>Or, as Consumer Reports so eloquently put it, <em>\u201cgetting relief or protection with a prepaid card can be like trying to cash in frequent flyer miles or credit card reward points&#8211;you don&#8217;t really learn what the rules and exclusions are until you try to use it.\u201d<\/em><\/p>\n<p>Jeezz, that bad?<\/p>\n<div id=\"attachment_32556\" style=\"width: 157px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/i2.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-51.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-32556\" class=\"size-full wp-image-32556\" title=\"Untitled-5\" src=\"http:\/\/i2.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-51.jpg?resize=147%2C237\" alt=\"\" data-recalc-dims=\"1\" \/><\/a><p id=\"caption-attachment-32556\" class=\"wp-caption-text\">Source - Unwired<\/p><\/div>\n<blockquote><p><strong>Paymaster \u2013 <\/strong><em>In many African and Asian countries, mobile phones have been readily accepted as a means of making micropayments for items and services. In the Americas and Europe, there are still major concerns about personal privacy and security, so adding another application to your smartphone will take awhile<strong>.<\/strong><\/em><strong> Source &#8211; Unwired<\/strong><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<p>Slowly, painfully though the world will turn to a mobile wallet solution because it\u2019s fast, convenient and cheap for financial institutions and retailers.<\/p>\n<p>After all, the only time you see a bank clerk today is when you go into their establishment and ask why the ATM (automatic teller machine) isn\u2019t working because you can\u2019t get any money.<\/p>\n<p>If you\u2019re already an ardent Starbucker; you can move more quickly, but be cautious:<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 before signing up, read the fine print and try to understand the transaction costs<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 pay by credit card to get the best<\/p>\n<p>protection and be a little paranoid that the seller might not deliver as promised<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 avoid prepaid debit cards and billing to your telephone account to block third-party charges to your phone<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 take convenience claims with a grain of salt, separate benefits from marketing hype<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 keep your mobile shopping tools separate from your digital wallet<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 know the threats with each form of payment, take steps to protect yourself<\/p>\n<p style=\"padding-left: 30px;\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 don&#8217;t share your personal identification and account information<\/p>\n<p>As an analyst at Jupiter said, over time you\u2019ll become comfortable with basic mobile banking functions and you\u2019ll want to adopt all of the features and benefits of mobile transactions.<\/p>\n<p>Well, the analyst actually called it the \u201call-immersive\u201d consumer experience.<\/p>\n<div id=\"attachment_32557\" style=\"width: 291px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-32557\" class=\"size-full wp-image-32557\" title=\"Untitled-6\" src=\"http:\/\/i1.wp.com\/alienbabeltech.com\/main\/wp-content\/uploads\/2012\/11\/Untitled-61.jpg?resize=281%2C186\" alt=\"\" data-recalc-dims=\"1\" \/><p id=\"caption-attachment-32557\" class=\"wp-caption-text\">Image Source - \u201cFun with Dick and Jane,\u201d Columbia Pictures<\/p><\/div>\n<p>Just remember what Jane said when Dick asked her, <em>\u201c<\/em><em>Do you mind if I kiss you in a public place?\u201d<\/em><\/p>\n<p>There will be a lot of people around when you whip out your phone.<\/p>\n<p align=\"center\"># # #<\/p>\n<h1 style=\"padding-left: 30px;\">G.A. \u201cAndy\u201d Marken<\/h1>\n<p style=\"padding-left: 30px;\"><strong>President<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>Marken Communications, Inc.<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong><a href=\"mailto:Andy@markencom.com\">Andy@markencom.com<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<blockquote style=\"padding-left: 30px;\"><p>Please join us in our <a href=\"http:\/\/alienbabeltech.com\/abt\/index.php\" target=\"_blank\">Forums<\/a><\/p>\n<p>Become a Fan on <a href=\"http:\/\/www.facebook.com\/pages\/AlienBabelTech\/123268467142\" onclick=\"_gaq.push(['_trackEvent', 'outbound-article', 'http:\/\/www.facebook.com\/pages\/AlienBabelTech\/123268467142', 'Facebook']);\" target=\"_blank\">Facebook<\/a><\/p>\n<p>Follow us on <a href=\"http:\/\/twitter.com\/alienbabeltech\" onclick=\"_gaq.push(['_trackEvent', 'outbound-article', 'http:\/\/twitter.com\/alienbabeltech', 'Twitter']);\" target=\"_blank\">Twitter<\/a><\/p>\n<p>For the latest updates from ABT, please <a href=\"http:\/\/alienbabeltech.com\/main\/?feed=rss2\" target=\"_blank\">join our RSS News Feed<\/a><\/p>\n<p>Join our Distributed Computing teams<\/p>\n<ul>\n<li>Folding@Home &#8211; Team AlienBabelTech &#8211; 164304<\/li>\n<li>SETI@Home &#8211; Team AlienBabelTech &#8211; 138705<\/li>\n<li><a href=\"http:\/\/www.worldcommunitygrid.org\/reg\/viewRegister.do?teamID=3P39R3SRV1\" onclick=\"_gaq.push(['_trackEvent', 'outbound-article', 'http:\/\/www.worldcommunitygrid.org\/reg\/viewRegister.do?teamID=3P39R3SRV1', 'World Community Grid &#8211; Team AlienBabelTech']);\" target=\"_blank\">World Community Grid &#8211; Team AlienBabelTech<\/a><\/li>\n<\/ul>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Pocket Change \u00a0 \u201cWe just robbed your safe.\u201d \u2013 Dick Harper, \u201cFun with Dick and Jane,\u201d Columbia Pictures, 1977 Have any of you looked at your bank account lately? Just curious, because we have&#46;&#46;&#46;<\/p>\n","protected":false},"author":396,"featured_media":32557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2533,7],"tags":[5900,5899,5187,3922,2117],"class_list":["post-32551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abt-news","category-technology","tag-micro-transactions","tag-mobile-banking","tag-mobile-payments","tag-privacy","tag-security"],"_links":{"self":[{"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/posts\/32551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/users\/396"}],"replies":[{"embeddable":true,"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/comments?post=32551"}],"version-history":[{"count":0,"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/posts\/32551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/media\/32557"}],"wp:attachment":[{"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/media?parent=32551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/categories?post=32551"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/alienbabeltech.com\/main\/wp-json\/wp\/v2\/tags?post=32551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}