Mobile payment innovators will benefit as banks run scared

26 December 2013 by Steve Blum
, , ,

Actually, it was invented in Russia.

Top of my list for the most influential people of 2013 in technology are the cyber thieves who stole the details of 40 million credit and debit cards from the Target chain of stores. Thanks to them, mobile payment and near field communications technology – e.g. chips in credit cards – might finally take off in the U.S. as fossilised payment processing companies are jolted into embracing entrepreneurial creativity. As I wrote last year

“Mobile payments is like waiting for Godot,” said Omar Javaid, managing director of BBO Global, speaking at a recent What’s Hot (and What’s Not) in Mobility 2012 forum in Mountain View.