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  • Apple building mobile-payments business [View news story]
    This is far bigger than most people imagine. It is about disrupting the existing business model of Visa, MasterCard and American Express not to mention the issuing and acquiring banks around the world. Look at the technology used at POS in the US, look at what happened with Target? Who do you trust to protect your data - Apple, Google or a bank? Protection I go with the first two. MC and VISA are still trying to catch up on Analytics and do not have a direct relationship with the customer. Amex because of its direct relationship may also have a long term competitor advantage to MC and Visa in some areas. PayPal will be pleased as this will raise the game and encourage more people to try alternative payment systems. Look at the technology at point of sale. It had not changed for years especially in the US. The Target data breach shows the challenge all face - my bet is Apple and Google have much stronger competences in data protection. These change will take time but whoever manufacturers those POS machines will be one of the first to face even more of a margin squeeze.
    Jan 26, 2014. 07:38 AM | 1 Like Like |Link to Comment
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