Card.io last year introduced its “visual swipe” technology that allowed developers to accept credit card payments by taking a picture of a card. Now, the start-up is launching a new consumer payment app for iOS and Android that allows people to receive payments using Card.io’s technology.
Payment system provider VeriFone is arming its merchants and retailers with new tools to handle the evolutions in commerce. At the National Retail Federation convention this week, the company, is demonstrating how it can help merchants become more mobile, more responsive and dynamic.
EBay’s mobile business is growing so fast, it doesn’t even know how to predict what to expect months into the future. It’s now predicting it will do $8 billion in gross merchandise value and PayPal will do $7 billion in mobile payment volume in 2012.
PayPal is taking a big step forward with its in-store payment system by partnering with AJB Software Designs, which helps connect the point of sale terminals at many top retailers to payment processors and financial institutions. AJB is in use by 20 percent of top retailers.
What consumers need to understand and embrace NFC is a gateway drug. And that is not likely to be mobile payments, said Andrew Bocking, Vice President, Handheld Software Product Management at RIM. It’s more likely to be personal content sharing through NFC-enabled phones.
It’s often difficult to separate what will shape the future of payments from what is just hype. PayPal’s Scott Dunlap focuses on the “innovation clusters” to get past the hype and see where mobile payment technology will be taking us in the near future.
PayPal president Scott Thompson’s departure for Yahoo highlights the changing face of eBay, which increasingly looks at PayPal as its crown jewel. And who better to safeguard that than eBay CEO John Donohoe, who has announced he will take over PayPal as interim president.
The momentum behind mobile payments is picking up but many of the newest challengers in the space are going to have to get over one nagging reality: consumers still trust their banks and credit card companies to drive the mobile payments market.
PayPal isn’t just building out a point-of-sale transaction network. It’s looking to engage consumers well before they set foot in a store. The company says its WHERE location-based ad network will be key in helping merchants attract consumers into their stores with deals and offers.
Out of all of Google’s close to $1 billion in clean power projects, turning biomass into energy seems like the least relevant technology to Google’s core business. But Google has made a few small investments into biomass projects, including a hog waste to energy project.