01 December 2010 | Author: J. Morton News Editor
USA Today has reported that smart phones could soon replace credit cards as Silicon Valley start-ups, wireless carriers and handset manufacturers work to facilitate the growing trend for 'shopping smart' as smart phone adoption soars.
Market tracker Juniper Research has forecasted that one in six smart phone users will be also be able to make mobile payments by 2014, while NYT journo Bob Tedeschi recently quipped that bargain-hunting shoppers - hardened by the economic recession - will soon have a basket in one hand and a price-checking smart phone in the other as more tech-savvy shoppers embrace smart phone technology.
As a result, Silicon Valley heavyweights and start-ups are racing to appeal to smart phone-using consumers' cash - with mobile payment network Isis (formed by AT&T, Verizon Wireless and T-Mobile) hotly tipped to launch in 2011 and Google announcing it will update its Android software to enable customers to pay bills via an embedded chip. Silicon start-ups Boku, Obopay, Zoompass and Square also have similar technology in the works - meaning credit cards could be in decline sooner rather than later.
Research analyst Gwenn Bezard told the USA Today that Bling is the start-up most likely to cash in on facilitating mobile payments, especially as the firm has recently paired with Facebook - the world's most popular social networking site - and encourages merchants to offer Facebook users discounted goods.
Start-up Bling has taken Palo Alto by storm - with some local business having told USA Today that up to 25 per cent of customers choose to pay by swiping their Bling-chip and PayPal-equipped smart phone.
Plastic Fantastic? Smartphones may soon replace credit cards
USA Today has reported that smart phones could soon replace credit cards as Silicon Valley start-ups, wireless carriers and handset manufacturers work to facilitate the growing trend for 'shopping smart' as smart phone adoption soars. Market tracker Juniper Research has forecasted that one in six smart phone users will be also be able to make mobile payments by 2014, while NYT journo Bob Tedeschi recently quipped that bargain-hunting shoppers - hardened by the economic recession - will soon have a basket in one hand and a price-checking smart phone in the other as more tech-savvy shoppers embrace smart phone technology.
As a result, Silicon Valley heavyweights and start-ups are racing to appeal to smart phone-using consumers' cash - with mobile payment network Isis (formed by AT&T, Verizon Wireless and T-Mobile) hotly tipped to launch in 2011 and Google announcing it will update its Android software to enable customers to pay bills via an embedded chip. Silicon start-ups Boku, Obopay, Zoompass and Square also have similar technology in the works - meaning credit cards could be in decline sooner rather than later.
Research analyst Gwenn Bezard told the USA Today that Bling is the start-up most likely to cash in on facilitating mobile payments, especially as the firm has recently paired with Facebook - the world's most popular social networking site - and encourages merchants to offer Facebook users discounted goods.
Start-up Bling has taken Palo Alto by storm - with some local business having told USA Today that up to 25 per cent of customers choose to pay by swiping their Bling-chip and PayPal-equipped smart phone.
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