There’s no doubt that mobile payments have been growing steadily for the past few years, but its still pretty easy to leave the house without noticing a real difference in the way people pay for things. That might change soon. Last week, Starbucks struck a deal with Square to accept mobile payments in all of its U-S locations and now, a large group of big-name stores are planning to enter the mobile payment game together. Target, Wal-Mart, 7-11, CVS, Best Buy and Sunoco are among the 14 companies that have already signed on to a new venture called the Merchant Customer Exchange, that will allow customers to pay in stores using only their mobile devices. The companies will do their best to woo buyers with targeted promotions available only on smartphones. It’s still an uphill battle for those who are pushing for the success of mobile payments. A recent survey found that 60 percent of the respondents were wary of putting financial information on their devices.
Shelly Palmer Radio Report – August 16, 2012
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).