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Commentary » Commerce Fault Line
Last week was again rich in announcements for PayPal with the launch of a new Bump-enabled iPhone application and a strategic agreement with China UnionPay. As I mused over both, I started to assemble a broader view of the transformation of PayPal as it has been playing out since last September, pointing out to a marked shift in the center of gravity of payment innovation.
Ever since its Initial Public Offering prospectus Visa Inc. (NYSE:V) has made no mystery of the importance it thought mobile payments would have in its future. Yet, judging from its press releases over the last 18 months, the company was struggling to define and implement a vision of why and how. Interestingly, the only significant allocation of resource to mobile payments came from Visa Europe, which announced earlier this month its intention to invest 200 million Euros.
Yes, you read it first on PYMNTS.com, the new member of the commerce alphabet soup will be "i-commerce"! That's what I believe Apple really started yesterday with the introduction of the iPad.
The 4th quarter of 2009 is definitely starting to feel like the dawn of a new age for e-commerce, with many attempts to integrate commerce with social computing and mobile use cases. Many companies are vying for a spot as the primary gateway to payments, thus fueling a new round of innovation.
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