Thursday, 05 May 2011 11:21

Replacing Cash and Cards with your Smartphone Featured

Written by Thom Henderson

Cashless and Cardless Society? Not when Mobile is the only way.

The way we pay for things hasn't changed drastically in the last couple of decades. Of course the internet and payment gateways using your original credit or debit card gave many online users the ability to create online shops where people can buy goods and services from the comfort of their own home.

figcard


The next step in the Payment History was with PayPal and the ease of use to people in America, Britain and an extensive list of cooperating countries. Easily pay someone over the internet without using the bank. PayPal makes depositing money and drawing it out has never been simpler which is why PayPal have acquired a small company with entrepreneurial thoroughbreds Max Mestral and Hasty Granbery.

These IT Entrepreneurs adventure started a long time ago in a galaxy far away. Beginning with Firefly and Microsoft Passport, Max Metral headed up several other companies Innovating IT to the next level in all aspects from credit assisted IT payments, small and large businesses IT consultants, ISPs, Business directories, Online privacy and many more spheres of IT development.

This team has flowered beautifully over time and now as PayPal employees they have a brand new idea that could once again change the way we do business. The internet changed the way we do business and now we want to make that business not stick with us at the office. It must be mobile. The introduction of smartphones over the last 6 years or so has brought the power of the computer anywhere you go. So why can't we skip having bulky wallets filled with cash, credit, debit and loyalty cards and simply do it online.

Mestral and Granbery have the answer with their FIG card. This card never stores any credit card information and the transfer is done with your smartphone and a $5 usb device that plugs straight into the POS device. No credit card numbers are stored and the transaction takes a fraction of a second. Soon enough we wont need tangible data just a device capable of reproducing the same effect :)

Last modified on Monday, 31 October 2011 06:25
Thom Henderson

Thom Henderson

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