Celluar Wallet

There seems to be a new app or a new use for smart phones everyday. And to no surprise there is technology that enables a smart phone user to purchase items just by scanning a bar code displayed on their phone. The bar code would be linked straight to your bank account of course. So if you can do everything else on your phone what's the damage in making your smart phone your wallet as well? Security feels like it should be an argument, but isn't all of our banking information electronically organized anyway? It is hard to imagine that your phone would make your information any more accessible then it already is. Then there are the worries of functionality. We all have those moments where our phone does absolutely nothing it is supposed to. This could be an extreme turn off to potential users of this technology. This new technology also poses a threat to our favorite plastic occupants in our wallets. Visa and MasterCard recorded 2.45 trillion in U.S. consumer spending was through their products. The effect this new technology could have on big companies like Visa and MasterCard is not yet known, but we can probably bet on some sort of bite being taken out of their cake.

The implementation of mobile device payment may be a tricky one. Consumers would more than likely resist the change due to not enough merchants adopting the new technology and merchants will more than likely not jump into anything without knowing enough consumers will use the technology. This predicament could make it difficult for this technology to take hold. Regardless of the obstacles, it is my belief that one day in the near future smart phone payment will be a marketable business. It is yet another way to enhance the exchange relationship between merchant and consumer. Even with the concerns of security, functionality and implementation this new technology will become more popular as it already has been in Japan and the U.K.

Article:
http://www.bloomberg.com/news/2010-08-02/at-t-verizon-said-to-target-visa-mastercard-with-smartphones.html
Linked!:
http://e-marketingforsensiblefolk.blogspot.com/2011/01/pay-by-smartphone-at-starbucks-mobile.html

Knock, Knock...It's China.

In the times where small businesses to large corporations alike are asking themselves "what is our core competence?" and "how can we stay competitive" it is important to remember that the same questions are being asked by our world leaders. When thinking about America, what would you say our core competence would be? For decades we have been the mecca for innovation and the place where innovative companies could flourish. With China's tremendous growth not only in population, but also their online users, they have become a HUGE online presence.  But is it safe to say that "he who rules the Internet, rules all?"

Right now China's Internet market is booming. With more users everyday the Internet has become a place of possibility for Chinese innovation. Companies like Giant Interactive and Shanda Interactive Entertainment are popular market watchers because of their potential to expand into social networking, given the popularity of gaming in China. These companies have experienced great growth and when compared to their fellow U.S. companies they win the race. It's not to say that the U.S. is out of the fight. With top companies like Google, we claim our right to compete. The soil might be rich in China's Internet market, but without the proper tools and know how their potential could be lost. The security measures that the Chinese government uses to filter certain things from the Internet could possibly inhibit innovation, BUT with the Chinese Internet user community growing it is a reality that U.S. companies will experience less growth in the future.

Article:
http://www.reuters.com/article/idUSTRE57R33420090828?pageNumber=1
Linked!:
http://e-marketingforsensiblefolk.blogspot.com/2011/01/how-will-chinas-online-presence.html