Posts Tagged: "NFC"

Digital wallet race heats up between Apple, Google and Samsung

The model for implementing digital wallets has largely relied upon what is known as the four-corner payment model by incorporating the use of payment cards, such as debit cards. Market research firm Research and Markets has reported that nearly three-quarters of all mobile digital wallets are funded by payment cards. By the end of 2013, 22 percent of the world’s population owned a smartphone, so it’s not inconceivable to think of a time in the future where credit and debit cards will become obviated by near-field communications (NFC) payment systems on smartphones entirely, despite the major rollout of payment cards with EMV computer chips by financial institutions. Today, we’ll take a look at the top three contenders in the mobile payment world to see what we can expect from each in the coming months.

Steve Brachmann

December 3, 2015

Businesses must switch to EMV card readers to avoid shift in fraud liability

By the end of 2015, about 40% of all credit and debit card transactions will use EMV cards. To process payments on EMV cards, businesses must upgrade to new card processing or point-of-sale technologies.

Steve Brachmann

October 29, 2015

When You Believe: A High Tech Entrepreneur’s Story

One of the Patent Examiners was surprised that I was there by myself and asked why I didn’t have an “army” of attorneys with me, as I was from Silicon Valley. I noted that not all startups are well funded like Facebook or Google. I went on to explain that well-funded startups and large companies were copying our ideas, cloning our products, selling to our customers and costing us revenue. Because of the increasing competition in NFC mobile payments, I was also having problems getting funding. I even explained how we had to downsize and put product development on hold. That was a new revelation for the patent Examiner, who was surprised.

Michelle Fisher

October 8, 2014