Elephant Talk and Mobile Wallets - The Next Trillion Dollar Revolution
Dustin Moore submits:
Imagine a world where almost any purchase can be made seamlessly at checkout lines, vending machines, and taxicabs, all through the simple wave of your mobile phone. The reality of that once futuristic conception is rapidly approaching.
The mobile wallet is in the project pipeline at nearly every major technology, financial, and telecommunication company throughout the world. Mobile wallets lead to faster, simpler checkouts and allow companies to have a closer relationship with their customers through their phones.
Apple (AAPL) has invested heavily in Near Field Communication (NFC) technology, which will enable the so-called “iWallet” that appears to be in the works. Google (GOOG) recently announced its rather extensive “Google Wallet” venture. Visa (V) and MasterCard (MA) are also pushing hard into mobile payments space.