Yes, Barbara, this is another means by which Google will give advertisers a means to target consumers with ads, coupons and special offers. There will be an opt-out process. In fact, you can opt out today on receiving most ads. For most consumers, it's just difficult to find the opt-out button. They, Google, will likely keep your data the same amount of time as they keep search data. You can find information on the length of time and the type of data Google stores here: http://www.google.com/privacy/faq.html#toc-store. Also, you wrote "At least with a plastic credit card, the only company advertising to me is the card issuer." That's not exactly true. It's the card issuer and their partners that can use the data to email or contact you with other offers.
@Barbara, your point is valid because event i don't like other company vendors to see my spendings and i don't even like to see ads when i am using the app. The good side of it is we can reduce the plastic usage and which protects environment.
You raise an important point about privacy issues, Barbara. That does seem to be a downside to the convenience of applications. It would be a boon to marketers to gain access to so much information about a person's spending habits, and if they can pick up on their location, as well, they have a gold mine of information.
Hi Laurie--I have a question: is this another means by which advertisers can target customers? I understand the systems-level concepts and I even am in favor of ditching the plastic. But how much of my data will they hold on to; is there an opt-out; and are ads going to flash across my screen every time I use an app? At least with a plastic credit card, the only company advertising to me is the card issuer (on the card, on their website etc.) But if every vendor I pay through this method can reach me at a whim, I'm not so sure I like the idea.
Laura, I think Google is moving away from social commitments to commercial developments. I agree that what were products came from Google are at par with quality and functionality wise. Google wallet is the latest add on for this category with citi and maestro card. But again a big question, whether we really need a new payment system because there are many other socket payment systems are in use. More over for the new payment system, companies who want to use the service have to generate a new set of compact code for availing the service.
The Google Wallet is a significant step forward in moving forward mobile payment systems.Whether or not Google Wallet will be successful, it will start a frenzy of activity in this space by established companies and start-ups. Google is smart to leverage the existing credit card payment systems, like MasterCard, which should speed up adoption and Google’s rollout plans. I have heard of mobile payment systems eventually replacing credit cards altogether and replacing the actual underlying credit card payment system. Google’s approach does not threaten the credit card companies.I am curious to see the flood of competition in this space, which will happen.
I think it will be a natural fit for POS and Enterprise companies, such as SAP, to partner with Google and others that enter in this space.If done correctly mobile payment systems via NFC can integrate pretty seamlessly to the existing backend systems infrastructure.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.