Mobile payments threat to retail banks / credit cards - Banking speaker - Phones keynote - Futurist

http://www.globalchange.com New non banking payment systems using RFID, mobile devices, personal organisers, mobile phones. Remittances, ticketing, retail payments, passports and travel documents. Phones keynote speaker on mobiles, smartphones, m-payment, m-commerce, e-commerce, mobile customers and consumer behaviour. Paying bills, foreign currency transactions, loan agreements. End of back-end processing for banks. End of credit cards and direct debit cards. Pre-approved loans for purchased goods. Loyalty fees and other transaction payments could create consumer revolution. Threat to traditional retail banking and banks plus other financial serviecs. Will use biometrics finger print recognition to validate secure payment transactions. Opportunities for innovation: cross-selling insurance, download mobile applications and other financial services products. O2, Vodafone, AT&T, Sprint, Orange, MTN and other major telecom / technology / media and communication companies have big opportunity to become financial services organisations, giving many handsets, devices and services for free in exchange for financial transactions. Opportunities for marketing, advertising and strengthening customer relationships, brand and corporate image. Lecture by physician and futurist keynote conference speaker Patrick Dixon for 2008 Stein Am Rhein leadership summit - facilitated by Professor Prabhu Guptara.

Category:

Education

Tags:

• Banks
• banking
• payments
• mobile phones
• applications
• credit cards
• technology
• business

[pjvdixon]

Such universal mobile phone payment systems are far closer to reality today - 2 years on from the date of recording.

[pjvdixon]

Do make comments here, and you can help others by pressing the star ratings and Favourite buttons above so people can find what is useful. Thanks.

[pjvdixon]

Do make comments here, and you can help others by pressing the star ratings and Favourite buttons above so people can find what is useful. Thanks.

[savedfaves]

Embarrassing to watch.

[chaimoto]

Kenya pioneered this technogy. people are able to pay taxi fare, power bill, water and even school fees. It is call Mpesa.

[mclarenf45]

next technology will be to pay using 'mind control'

[laurieannek]

What countries are currently using this? Japan? Do you see a cash system ever disappearing?

[KhmerD0g]

no threat, just compliment each other system.