E-Commerce Times Talkback
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Efforts to develop viable alternative electronic payment systems resemble Wright
Brothers-era attempts to build a functioning airplane. Somehow, someway, e-commerce is
determined to get a new electronic payment system off the ground. So despite infrequent
success, the new ideas keep coming. And perhaps the electronic payment innovation that
will have the greatest impact on e-commerce comes straight from James Bond movies.
I do think the use of cellular phone for accepting charges will be the leader procedure in this field.
In Europe, Paybox.com backed by Deutsche Bank is leader right now. It's alternative ?.
Having tech difficulties for merchants to run the system I developed a bridge over paybox's gateway to ease the process.
Yes, Yq Zhang, this model is also perfect for China. Everywhere cellular phones are more popular than PC.
Only for accepting the payment, and not for the whole shopping process.
Also, it is combined with CC payment systems.
It can be tested at www.ibercobros.com/x4b.html
Regards from Spain
This is all good news. It is high time e-payments started taking effect. I've recently been introduced to a company called Payment Partners who are tackling the "international" electronic payment - I'm truly encouraged by what I read here and hope that the innovators can outrun the giants.
Transaction authenticity & access via a biometric algorithmic card with USB connectability to computer/mobile phone/EFTPOS requiring a match to a thumbprint reader is integratable into all existing financial systems & with tamperproof transaction logging for audit trail, obviates need for any third party involvement but provides transaction security, proof of origin & identification/details/source & legally enforceable liability for any "breaches".
It is very timely to come across your article. I agree 100% with this opinion reflected in your article:
"You really have to look outside of America to find any adoptions other than credit and debit cards."
is the largest e-commerce web site in China and I believe China would be one of the best places for these new payment technologies. There is practically no credit cards in use in China. From our experience, given choice of debit card and COD, 99% of people actually choose COD instead of debit card. I would be very interested to talk to anyone in applying their technology in China through our web. You can reach me at:
Inventing entirely new ways to pay which are alien to the ways consumers shop/pay offline will always be challenging. As Mr Briggs says, success is likely to come to those who develop trusted intermediary applications, taking the hassle/fear/uncertainty away from consumers. Many are nervous of commerce online as it is, without making them jump through even more hoops to complete what should be a simple transaction.