Case Seven- A battle emerging in mobile payments

Case Seven- A battle emerging in mobile payments

Rita/710731507

Because of the network effects, there are many ways for users to pay the money, such as using the mobile payment system in nowadays. And then, it leads a battle emerging in mobile payments. In my opinion, the key point for the users that using the payment system is “convenient.”

  High technology industries are those in which the underlying scientific knowledge that companies in the industry use is rapidly advancing. It seems that there are some advantages and disadvantages of using mobile payments. First of all about advantages, for individuals, it is convenient and you only need a phone then you can finish paying quickly, you don’t need to be afraid of forgetting bring money. Then for business, such as Apple, Samsung that mentioned in the case, for business, first is that they can track customer trends and inventory. Second, increasing speed of checking customer out. In other hand, about disadvantages, for individuals, users may afraid of having risk of fraud and they're easier to track, every transaction leaves a digital record, which makes some people concerned about privacy.

  Companies accepting mobile payments are able to appeal to a much larger client base. It offers the customers more ways to pay while offering flexibility for your business to grow. Finally, I think that whatever the company of mobile payment is, privacy is the most important thing that they need to be noticed.

Case Seven- A battle emerging in mobile payments

Baptiste/710831899

Innovation seeks to meet needs, to make life easier. Like Near-field communication (NFC) payments.

Indeed, today we are no longer even obliged to take our wallet with us to buy something. Since innovation has made it possible to pay by phone and many people have a phone.

As a result, the mobile payment market and the battle for this market has grown significantly in recent years.

Although this makes the consumer's life easier because he can pay easily, quickly without carrying money with him and allows companies to have information about the customer, there are disadvantages such as fraud and invasion of consumer privacy.

In the long run, we could see a disappearance of the material currency

Is that a good thing? I'm not sure because it could create inequalities between developed and less developed countries

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