Friday, April 1, 2011

Factoids That You Can Use

Using your cell phone to make payments for merchandise is the next technology wave poised to hit the wireless industry. Although its not a new idea, implementation has been slow in the U.S. compared to Asia, Europe and other countries. Now more software providers are knitting the capability into their operating systems for smartphones. Microsoft recently hinted it planned to make the software available soon. Google already has bolted on payment capability in its Android operating system for cell phones. Wireless observers expect Apple to soon upgrade its software to match Goggle. Retailers are also gearing up with transaction scanners that work with wireless handsets. Starbucks already has inserted the readers at cash registers in most of their stores. In 2010, mobile payments for goods and services topped the $30 billion mark globally. Gartner research expects the figure to mushroom to $245 billion by 2014. Handset manufacturers have taken notice. According to Gartner, cell phones shipped with the payment software will reach 35 million by the end of this year. That number is expected to double by next year. By 2014, Gartner projects that 340 million global wireless users will make payments for merchandise with a tap on the handset screen.

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