Sunday, 26 August 2012

Discover Finds PayPal, But Where's the Mobile Wallet and Is Square Scalable?

ALISO VIEJO,CA ( August 24, 2012 - Today Mobile Wallet Media announces it has published articles that shed light upon a potential security issue with PayPal’s In-Store Checkout services and discusses how Square might have difficulty in scaling it’s new Pay With Square service. Mobile Wallet Media’s PayPal article also asks, “Why are PayPal’s products being considered to be ‘mobile payments’ and where is PayPal’s mobile wallet?”

The mobile payments and mobile commerce news announcements have been many, fast and furious the past two weeks. First, Square announced it’s partnership with Starbucks. The new ‘Pay With Square’ product for Starbucks is said to work much like the Starbucks Card Mobile App. It is slated to be released for use in all 7,000 Starbucks stores this Fall.

Randy Smith, Founder and Chief Editor of Mobile Wallet Media, said “I love the Starbucks Card Mobile App. It is fast, simple, convenient, fun and rewarding. However, 'Pay With Square' may have a tough time scaling as fast as other Mobile Wallets, like Google, MCX and ISIS, if they fail to simplify integration at POS.”

Last week there was the announcement of a retailer network named Merchant Customer Exchange or MCX. This network will make a huge impact on industry as the top tier retail lineup includes Wal-Mart, Target, 7-11, Best Buy, CVS, Darden Restaurants and more. MCX has not revealed the technology to be used to enable their mobile wallet, nor have they hinted as to when the service will be available. Mr. Smith added “MCX also did not make it clear if this retail network will be open to adding additional competitive retailers.”

Just this past Wednesday PayPal announced a partnership with Discover. This partnership will make PayPal’s ‘In-Store Check-Out’, available everywhere Discover Card is accepted. Don Kingsborough, PayPal’s VP of Retail Services states, “This is an important deal for us, because it gets us to over seven million locations pretty seamlessly.”

Smith also shared, “Let’s not forget that Google’s announcement of it’s revamped and more secure and scalable Google Wallet ‘2.0’ and Apple’s acquisition of Authentec and it’s fingerprint authentication technology and makes everything even more interesting and complex.”

Smith said, “The dominos have just begun to fall, but fall they have, and I fully expect to soon see more major news announcements by Apple in coordination with the launch of it’s next iphone and yet another by PayPal. It’s the ‘Wild-Wild West in Mobile Payments.’ The land grab has just begun and the victors will be many and various. Some unexpected underdogs are sure to surface.”

Mobile Wallet Media also announces it will be in attendance at the upcoming industry event, “Mobile Engagement in Retail” on September 13-14, 2012.

About Mobile Wallet Media
Mobile Wallet Media is a news media, analyst, marketing and consulting firm focused on the future of mobile: payments, marketing, loyalty commerce, security, prepaid, virtual currency, daily deals and the convergence of them all with social and local. The Chief Editor, Randy Smith, was the primary founder, inventor and former CEO of MobilePayUSA, a TechCrunch Disrupt Award Winner.


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