Tuesday, March 15, 2011

Making Money


    Jay Bakker: Young Christians Are Keeping Homophobia Alive (33)

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VeriFone Says Merchant Buy-In Key to Success of Mobile Commerce



Service Providers Must Shoulder Acceptance Infrastructure Costs to Successfully Bridge Gap Between Mobile Phones and Retailer Point-of-Sale



SAN JOSE, Calif.--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY), the leading payment solutions provider in the U.S., today urged aspiring mobile payment service companies to engage with retailers in determining market requirements to enable mobile phone-initiated payments and services at the retail point of sale.



"Emerging mobile payments platforms represent a leap forward in electronic payment transactions, but those who want to claim leadership in this space have to reconcile merchant resistance to the imposition of costs to implement new infrastructure that will be managed an increasingly complex environment"

Responding to growing interest from major industry players intent on claiming a stake in emerging mobile commerce opportunities, VeriFone CEO Douglas G. Bergeron articulated key guidelines to ensure that mobile payments don't follow the path of previous alternative payment schemes that only succeeded in alienating merchants. VeriFone supplies a large majority of card payment solutions employed in the U.S. by retailers large and small and over the past 30 years has led the way in retail adoption of new payment technologies.



"Emerging mobile payments platforms represent a leap forward in electronic payment transactions, but those who want to claim leadership in this space have to reconcile merchant resistance to the imposition of costs to implement new infrastructure that will be managed an increasingly complex environment," Bergeron said.



"The retail point of sale represents a point of convergence for smartphone-initiated payments, social networking and electronic couponing, but it won't happen if retailers are expected, on faith, to absorb the costs of making it work," Bergeron added. "This isn't just an issue of adding an NFC reader, it requires deep software richness at the point-of-sale to interact with the smartphone and manage a services-based model encompassing new applications and deployments without disrupting operation of existing card systems."



Bergeron outlined six key "rules" that industry participants need to adhere to in order to ensure success of mobile commerce:



Rule #1: "Deployment and management of complex NFC technologies will require significant ongoing services from the retailer's payment systems provider. Until retailers are assured of receiving real value from mobile commerce, service providers who stand to gain from either carrier fees, advertising revenue or transaction charges must be willing to bear the costs of this highly disruptive paradigm shift."



Rule #2: "Mobile commerce must add value to the consumer. Tapping a phone is a gimmick, no different from tapping a card or fob. In addition to providing the ability to pay for stuff by phone, service providers and retailers need to provide real additional value –- such as coupons, loyalty rewards and discounts -- for consumers to leave their wallets at home.



Rule #3: "Mobile commerce must be streamlined with existing POS services and managed well for the retailer. Retailers won't tolerate the need for multiple methods of acceptance to accommodate what will become a wide array of mobile commerce schemes. All ideas, regardless of where or who generates them, must converge at a unified point-of-sale."



Rule #4: "Mobile commerce must go from zero to 90 mph in five seconds. Consumers will not embrace mobile commerce without the confidence that it is being widely accepted. If it only works at a few select retailers, it dies a quick death. Ten percent acceptance is not sustainable."



Rule #5: "Mobile commerce must be integrated with other forms of payment. Mobile commerce won't lead to the quick death of plastic cards and must work with existing payment systems that are certified by all major processors and installed in the vast majority of large and small retailers."



Rule #6: "Mobile commerce must be ironclad secure. Security, both real and perceived, is imperative to the adoption and sustainability of mobile commerce. Even minor setbacks in security could compromise consumer adoption and stop the movement in its tracks.



Bergeron's rules are based on years of experience working with retailers to implement payment technologies and adapt to changing security requirements. As the trusted supplier of payment solutions, VeriFone has the ability to work with retailers and service providers in assessing market requirements and integrating existing infrastructure with complex new technologies required to make mobile commerce work smoothly.

BenchCraft, LLC announced that it'll debut its Concert Series, a new line of recliners with an integrated sound system, at Great Stage Industry on October 17-22, 2009. Concert Series recliners attribute two built-in stereo speakers in addition to a subwoofer built specifically to build a total collection of sound. It has tactile motors which could both vibrate together with the sound or be put to use independently as being a massage system, and separate controls that allow for for person changes to become created to the volume, bass/treble, along with the tactile/massage element. The system, that will have a very starting total price level of $699, will also comprise of a mini audio jack so end users can connect to their a variety of audio sources (i.e. iPods, MP3 gamers, cell phones, and so forth.). To that stop, Sinning noted that Berkline will even be introducing in decide on motion
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furniture its new eCoupled know-how option--a wireless charging station for electronic devices together with cell phones, MP3 players, and laptops. Produced by Fulton Innovation, it eliminates the need for energy cords by setting up an electromagnetic conduit combined with an intelligent management procedure that continually monitors energy movement so a range of units from totally different manufactures can cost simultaneously. eCoupled know-how can also be safe and sound for electronic gadgets given that it will provide only the amount of power
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