Pew Internet published their report today on the Future of Mobile Money.
It’s a very mixed bag of responses from the experts in the field. It may have been questions asked by the researchers, but people seem very fixed on NFC and existing banks.
First my favorite responses:
Peter J McCann of Futurewei Technologies essentially saying what I said in Breach shows Credit Card based payment systems fundamentally broken:
The use of a simple string of digits that must be shared with any vendor with whom you transact is really a ludicrously insecure system that can and must change. – Peter J. McCann
Fred Stutzman writes about why we won’t see NFC in 2020 in the US:
Two words: legacy infrastructure. Maybe in 2030.
mobile payments will take off “in the third world first, where there is no well-established banking …
Stripe has quickly become one of the favorite payment gateways for developers. After having gone through a long closed beta period, they launched in September 2011 and immediately grew a large following of users.
The interesting thing about Stripe is that they are famous for being innovative and have a really simple API. The API is only one part of the innovation though:
1. Market to developers
Stripe specifically picked developers as their target audience. They were able to pick at and catch the wave of Developer/Entrepreneurs that has grown in the last couple of years, where most payment systems are targeted at “suits” or small business owners.
Right on their home page Stripe tempts the developer with code they can run right there and then. Simply cut and paste into your terminal.
This might not seam ground breaking, but this is why you hear …