Posted on August - 05 - 2010
Are SmartPhones Taking Over Credit Card Payments?
Last week, one of our Credit Karma engineers snuck over to Berkeley and went to a vegan bakery to buy a very Berkeley-esque, gluten-free scone. When he went to pay, in place of the traditional “ka-ching” cash register was the sleek and sexy profile of an iPad equipped with a credit card terminal. In the midst of the busy downtown area where many local businesses are cash-only, a quick swipe and a few touch-screen clicks later, our CK engineer was out the door and munching healthfully ever after.
The use of mobile payments through mobile devices—iPhones, Androids, other Smartphones, and iPads—was a hot topic in the media, but yet to be seen around the consumer marketplace. It’s been mulling around news and blogs for months: companies competing for who has the better credit card swiping gadget, start-ups offering business transactions via text message, and special “bump” technology to exchange money when two phones make contact. But, cash reg