tag:blogger.com,1999:blog-2503392532090682825.post5990962569439348691..comments2023-06-13T05:05:28.886-04:00Comments on Economics of Information: Whither the Contactless Payment?Erik Brynjolfssonhttp://www.blogger.com/profile/01117552073319813366noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2503392532090682825.post-55978474718937658272014-11-08T06:18:00.807-05:002014-11-08T06:18:00.807-05:00This move follows the waiving of fees initiated by...This move follows the waiving of fees initiated by text donations processors, as we discussed previously.<a href="http://rosenfeldmerchantservices.com" rel="nofollow">high risk merchant services</a>Anna Schaferhttps://www.blogger.com/profile/09633259957714692411noreply@blogger.comtag:blogger.com,1999:blog-2503392532090682825.post-29460688152850814712010-12-08T14:15:56.755-05:002010-12-08T14:15:56.755-05:00The issue with contactless cards is that they real...The issue with contactless cards is that they really do not solve any big pain point for consumers. There is not that much of a difference between swiping your card or moving it towards a detector. Consumer habits are one the hardest things to change.<br /><br />The real innovation and where the market really is going to be, is around alternative payment methods. This includes companies such as Bling Nation, PayPal and, believe it or not, the cell phone carriers. <br /><br />If AT&T/Verizon/etc actually are able to pull the trick on the new payment platform they are creating, carrier payments will become the de-facto standard for payments for cell phones (phones will become the standard payment method, it is to be decided who is processing the transactions).<br /><br />We have seen examples of this in Kenya with M-pesa, and many countries, developed and non-developed, are rushing to make cell phones the standard for payments. This has way bigger implications than just card acceptance (financial inclusion, remittances, etc).<br /><br />The issue with any payment network is the same: a classic two-side network. Big banks have the acquiring network and merchants. Carriers have the consumers. Alternative payment methods have both but on a much smaller scale. Who will win? There is still a long road ahead....<br /><br />Full disclosure: I work for PayPal.adolfobabatzhttps://www.blogger.com/profile/08006732030940416193noreply@blogger.comtag:blogger.com,1999:blog-2503392532090682825.post-58016016936506162622010-12-08T10:36:00.756-05:002010-12-08T10:36:00.756-05:00Are there contactless cards with bullet-proof secu...Are there contactless cards with bullet-proof security? <br /><br />On the face of it, contactless cards are not that different from the cards we use today, so it's hard to imagine a longterm deterrent to their adoption other than security.Erdin Beshimovhttps://www.blogger.com/profile/07287436646337123156noreply@blogger.com