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Commentary » PYMNTS Voice
eBay’s announcement yesterday of its acquisition of Zong is just another interesting example of this e-commerce giant’s grand ambition to change the face of retail as merchants and consumers know it and experience it today. Here’s what I mean.
I have always been up for a challenge. I read just last week a quote from someone from Forrester who basically said that anyone who believes Facebook is the commerce frontier is basically smoking something. (Well, what he said was that they had about as much credibility as the guy who bought billboards predicting the end of the world, so sort of the same difference.) And, since I was quoted earlier this year as saying that people who didn’t believe that Facebook was the commerce frontier were basically smoking something (what I said was that they’d be wishing for a Christmas miracle), I thought I’d better do something to redeem myself.
As we press into our few remaining days before the holiday, many of us are taking the time to log on to retailer websites (most often at work) to take care of some last-minute shopping. If you're like most consumers, there are a handful of online sites where you shop frequently. You've probably registered with those merchants, giving them your payment, billing, and shipping details tied to a username and password. Maybe for some of those folks for whom finding the right gift is always a challenge, you might log in to an online search site to look for gift ideas, ask for suggestions from friends in your social network site, or you might even respond to an inbound e-mail pitching a new product idea.
Thoughts from Day 1 of PayPal’s developers’ conference
You know you have created something important when it starts to redefine the industry conversation. Over the last few days, it became obvious PayPal is on to something with its approach to embed payments into the fabric of commerce.
Apple and Google are off to the races in owning commerce on the mobile phones as recent transactions and announcements clearly show. Here’s a running recap …
When it comes to using invisible engines to drive innovation and transform industries, PayPal is the first out of the gate in the payments industry and well ahead of the traditional players. This online payments giant claims that “PayPal X is the first and only global payments platform open to third-party developers. Our new set of APIs will offer unlimited possibilities for [developers] to easily monetize your ideas, by providing security and connectivity to the world’s financial systems.” This isn’t the usual hype—whizbangthing.ppt—that we get from payments providers trying to stake a claim. Six months after announcing its open platform more than 25,000 applications have been written to it and a vibrant developer community is are cranking out more apps as you read this.
There’s no Steve Jobs strutting on the stage, massive consumer buzz, or slick television ads about how there’s an app just for you. But there are some things you’ve probably heard about and a soon-to-be known Denver based company, IPCommerce, is the invisible engine that’s powering them.
Visa’s $2 billion purchase of CyberSource, a leading e-payments provider, may mark the beginning of the wars over who will help merchants and consumers transact over the web.
Revitalizing credit, creating jobs, and stimulating the U.S. economy was the subject of a panel that I participated in last week at the U.S. Chamber of Commerce's Capital Markets Summit. A lot of people have said that businesses — especially small ones — can't get credit. A big question for the panel was whether that's really true. Here's what I said.
The payments landscape is constantly changing with new technology and applications regularly emerging trumpeted as the latest and greatest "Alternative Payment" system. With all of this change it might be helpful if we define "Alternative Payment." Perhaps the challenge is to define "Traditional Payment" and say that everything else is Alternative Payment, but somehow that does not satisfy the question.
2012 ach acquisition ad-supported advertising africa akerlof alternative payment alternative payments amazon amazon fps american express amex android api apis apple application applications at&t atm authentication automated clearing house b2b b2bsynergy banking bank of america barclays behavioral economics big bank excuse billmelater bing blackberry bling nation bloomberg bob dole braintree brian burnseed business business week business wire c$ cmoney capgemini capital markets summit card act cardholders card issuer card issuers card issuing card network card networks card reform cards carte blanche cartes & identification 2010 cash cass sunstein catalyst code catalysts cfpa cfpa act chase check card checks chicken-and-egg china china union pay cloud computing code commerce compliance congress consolidation consumer consumer financial protection agency consumer financial protection board consumer loyalty consumer payments research center consumers contactless contactless cards contactless payments corduro credit credit card credit card networks credit cards ctia cup cybersource dan ariely daniel read data center david evans david s. evans debit debit card debit cards decoupled developer developers development device fidelity dick schmalensee digital media diners club discover disruptive disruptive technology dodd droid durbin durbin amendment e-commerce e-payment e-wallets ebay ebillme ecommerce economics economists economy eft electronic commerce electronic payments element payment services elizabeth warren encryption epayment epayments evans facebok facebook facebook commerce farmville federal reserve fees financial financial reform finovate firefox foreign networks frank frank parry futures g-cash gaming gao general accountability office gift google google checkout google wallet gopayment greatest developments groupon guest payments hagiu healthcare holiday hyperbolic discounting ibm icbc ignition ignition series ignition strategy innovation interchange international telecommunications union internet internet-based intuit invisible engines ip commerce ipcommerce iphone iphones ipo isis issuer jack dorsey jason diaz jcb international jibun bank john donohue joshua wright journal jp morgan justin fox karen webster kathy miller kenya law lending linkedin loyalty m-commerce m-pesa magnetic strip mag stripe magtek making credit safer manhattan mara airolki margaret weichert market platform dynamics mastercard mcommerce merchant merchants merger meters microsoft mit mobile mobile apps mobile banking mobile money mobile payments mobile wallet money transfer more than money mtn myspace national payment card near field communications network networks new businesses new business models newspaper publishing newspapers new york city new york times nfc nilson non-cash obama obopay oliver williamson online banking open platforms other p2p paas patrick gauthier payment payment card payment cards payment engine payment networks payments payments innovation paypal paypal here paypalx paypal x payroll paysimple payvment payware pci pci ssc peter guidi philippines pin platform platforms policy pos prepaid processing psychology pts publishing pymnts quattro reform regulation related publications retail revolution money richard thaler roam data ronald coase saas safaricom schiller schmalensee screening rules sdk search security senator durbin serve shane frederick shopping small business smart-phones smartphone smartphones social social commerce social network social networks software square standards start-up startup startup strategy strategy survey of consumer payment choice swipe fee target taxi taxipass taztag techcrunch technology the payments authority tim attinger traffic transaction costs transactions tsys twitter two-sided market two-sided platforms u.s. bank u.s. chamber of commerce user behavior validation verifone verizon virtual currency visa vivotech vodafone wall street wamu warren buffett washinton web 2.0 wells fargo western union windows wright wsj yahoo yes bank youtube zoompass zynga
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