Mobile Future

Cashing In On Mobile

The phrase “dialing for dollars” continues to evolve into a whole new meaning. As Claire Miller and Nick Bilton write in The New York Times this week:   

      “A number of big and small companies — including eBay’s PayPal, Intuit, VeriFone and Square — are creating innovative ways for individuals to avoid cash and checks and settle all debts, public and private, using their cellphones.”

What’s especially notable is that this isn’t a case of the U.S. catching up with Japan, where people have been using their cell phones to pay bills for years. Nope. The difference is that in Japan, mobile phones need to be swiped, just like a credit card. But what The Times points out is that apps developers here are rapidly coming out with programs that don’t require even a swipe. Using these emerging mobile apps, you just tap a few keys and your payment is made through your credit card, with all its consumer protections still in place.