Credit cards got a lot of people I know into great trouble. So is it a relief, then that according to industry experts, a new generation of phones coming out in 2011 will allow people to pay for things with their phone, not just their cards. Once people get used to such convenience, maybe they won’t want to go back. The phones use ‘near-field communication chips” and only require a gentle tap on a special payment terminal.
So experts are saying that the Mighty Capital Ones of the world are running scared. Trembling over the prospect of losing so much business because somebody developed a better mousetrap. Massachusetts stands to greatly benefit, because two companies that installs the mobile shopping systems, are from the Bay State. Modiv Media is bringing the iphone credit card tap to 750 Stop and Shop stores in the next few months. Androids coming soon.
Another company, AisleBuyer offers the same thing. It’s true, the companies tell merchants. “People want to engage with their phones while they are in the stores.” We all know this is true, since so many times…hey, look up right now….somebody is staring down at their smartphone. The apps also let consumers scan items and compare the prices at various other stores, while they are standing in the store where they may or may not buy the product.