Google, Apple Expand Micropayment Systems for Web Content and Mobile Purchasing


In 2009, New York Times columnist David Carr wrote that "with newspapers entering bankruptcy even as their audience grows, the threat is not just to the companies that own them, but also to the news itself." Will enhanced technology make micropayments any more attractive or compelling now than twenty years ago? "Remember that when iTunes began," Carr continues, "the music industry was being decimated by file sharing. By coming up with an easy user interface and obtaining the cooperation of a broad swath of music companies, Mr. Jobs helped pull the business off the brink. He has been accused of running roughshod over the music labels, which are a fraction of their former size. But they are still in business."

According to industry trade group CTIA, wireless data traffic doubled from 2010 to 2011, to an incredible 341.2 petabytes -= 341,200 trillion bytes of data. Since voice traffic remained constant, this shows that people are clearly finding new ways to use their cellphones. The adoption rates in Africa are most compelling.

The 2012 Afrobarometer survey found that 93% of their survey communities had cellphone service - amazing when compared to only 23% having a post office, 30% a police station, 51% a health clinic and 82% an electricity grid.

A recent World Bank report finding that in Kenya "basic mobile savings is already partially filling the gap, answering the acute need many Kenyans, particularly the poor, have for a secure place to store funds." For developing countries, without the existing financial infrastructure, micropayments has already taken a strong hold.

Clearly mobile is hot today - and a major device for the 21st century for communication, information and now finance as well: "Mobile services are changing the way that billions of people around the world live, work and socialise," notes Michael O'Hara, chief marketing officer for the international trade group GSMA, "and we are seeing a steady evolution towards a fully digital life."

Timetric's recent market research report on mobile banking reports that "at the beginning of 2011, 30% of mobile phone users in developed markets used a mobile banking service on their mobile phones at least once. By 2015 however, a number of forecasts expect at least 50% of US mobile users to be conducting transactions from their mobile devices."

I was fortunate to be able to look at this new phenomenon for a NewsBreak for Information Today. Google, Apple, Walmart,PayPal and now Isis are some of the non-traditional companies hoping to move into 21st century banking. You might want to give my report a read. Are you ready to switch from banks and cash to mobile? Who do you trust with your banking?


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No problem - I'll be interested to find out what you say about this! -- Nancy

Thank you for all your comments....I hope you all had great holidays, and have a safe and happy New Years!

Hi friend, You have a nice blog.

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Ciao, il mio nome è Jon io sono nuovo di questo sito, hobbys stanno costruendo i computer, e, kitHey elettronica tutti. Sono decente con i computer e sono stato in grado di risolvere un sacco di problemi miei amici 'per conto mio, ma io spesso guardo su risposte e imparare sempre di più su come risolvere il problema. Io stesso ho trovato su questo sito di frequente, quindi ho pensato che dopo tutto questo tempo, potrei anche Iscriviti! S Sono un laureato di lode in disegno e giochi, anche un laureato della programmazione informatica. Sono anche in per maximium rivista di computer, anche quello è mi sento libero di inviare una risposta io aiuto con un sacco di domanda tecnica e buone regole tecnologia giorno.

So di essere un po 'tardi nel contribuire miei pensieri, ma questo particolare articolo creato sentire. E 'stato un weblog assorbente posta. Ho trasformarsi in un lettore regolare del proprio sito web, dato che mi sono un po 'indietro di nuovo attraverso il vostro sito. Non posso dire che concordo con tutto quello che lei ha dichiarato, ma era decisamente illuminante! Sarò di nuovo di nuovo rapidamente.

I consider very important to talk about how technology is benefiting or affecting us in the immediate future.
Regarding our economy and finance I must say that I trust much more in physical currency that in the virtual one. In fact, bitcoin went far down at loss in the stock market and it seems not very reliable for investors. Then, why should it be for us? I can not imagine having my bank account balance on a number from the screen of my phone and suddenly it disappears!

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