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Trend: Mobile Payments Gaining Momentum
A front page story in the Sunday business section of the San Francisco Chronicle talked about how mobile payments initiatives are gaining momentum.
Bling Nation and eBay Inc.'s PayPal division are examples of businesses that are rolling out products that allow people to pay for goods and services in stores, restaurants, and coffee shops with the tap of a mobile device. No credit cards, checks or cash are necessary.
One of the examples presented in the story was an eco-friendly home goods store, Live Greene, that has been using Bling for several months. The owner, David Greene said "he hopes it will help him generate more repeat business and draw in additional customers among smart-phone-toting Stanford students, though it hasn't made a notable impact to date. The immediate benefit has been the cost savings."
He especially liked how the transaction fees are less than credit cards. That's a huge plus.
Expect to see more stories about mobile payments in the upcoming months. It will be interesting to see if the focus is on using apps or mobile Web to make this capability available.
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