PLEDGE NOW
Mobile Money

When your smart phone is your wallet.  Swipe the phone.  Pay the bill.  We’ll look at life and cash in the age of mobile payment.

A person tries a smartphone loaded with Google Wallet at the National Retail Federation, Tuesday, Jan. 17, 2012 in New York. (AP)

A person tries a smartphone loaded with Google Wallet at the National Retail Federation, Tuesday, Jan. 17, 2012 in New York. (AP)

“Cash in hand” is a phrase with a certain ring to it. It may soon sound antique. The world of banking and retail, of Google and smart phones, is gearing up to say goodbye to cash. Mobile payment is the big new buzz. No coins. No bills. No credit card.

Just step up in the store and wave your smartphone. Transaction complete. The money gone, from your account to theirs.  It’s already fully on in Europe and Asia.  It’s about to go big in the USA.  With all kinds of implications.

This hour, On Point:  the smart phone as your new wallet.  Mobile payment, and the end of cash.

-Tom Ashbrook

Guests

Michael Copeland, senior editor at WIRED, where he focuses on all things related to the business of technology.

Ed McLaughlin, chief emerging payments officer at MasterCard.

Hilary Cherniss, owner of Devil’s Teeth Baking Company.

From Tom’s Reading List

Wired “Square releases the total dollar amount of sales that go through the system, not the total number of transactions. The most recent number puts total Square-enabled sales at more than $5 billion per year. That gets you to about $14 million per day. Since this snapshot captures a high activity part of the day across the entire U.S (not much being sold between midnight and 5 A.M.) this one hour likely represents several million dollars in sales. Square’s take in a hour? About $60,000.”

Fortune “Café Grumpy is the kind of hipster hangout that wouldn’t deign to trumpet itself. Tucked away on a quiet street in New York’s Chelsea neighborhood, it’s easy to miss. There’s no sign out front, just a frowning face stenciled on a large shop window. And yet when I walked in for the first time, I immediately felt like one of the regulars. “Charge it to Miguel,” I told the barista after ordering a cappuccino, and charge it he did — to my phone.”

US Banker “The use of mobile payments among U.S. consumers has grown dramatically in the past year, an IDC Financial Insights study released yesterday has found. A third of consumers — 33.9% — make purchases with their mobile phone, according to the survey of 2,663 U.S. adults.”

Video: Square In Action

In this commercial, you can see the two types of Square transactions.

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Aug 31, 2015
A television photographer takes video of a memorial for the two slain journalist in front of the studios of WDBJ-TV7 in Roanoke, Va., Thursday, Aug. 27, 2015. Reporter Alison Parker and cameraman Adam Ward from the station were killed during a live broadcast Wednesday.  (AP)

Lessons from the Roanoke TV shootings. We’ll look at the way forward with the New York Times’ Nick Kristof and other top thinkers.

Aug 31, 2015
While the jury still deliberates, former St. Paul's School student Owen Labrie, left, leaves the Merrimack Superior Court at the end of day with security in tow Thursday, Aug. 27, 2015, in Concord, N.H.  Labrie was convicted by a jury of several misdemeanors, but ruled not guilty in the most serious felony sexual assault charges. (AP)

A verdict in the New Hampshire prep school rape trial. And calls for changing sexual assault laws.

RECENT
SHOWS
Aug 28, 2015
Lightning first ignited the Meadow fire on July 20, 2014 in Yosemite. By September 8, the fire had charred 2,582 acres. Bernie Krause has recorded soundscapes of national parks destroyed by large areas of forest fires. Listen below.  (National Park Service)

A legendary natural sound collector shares his recordings. We’ll listen in.

 
Aug 28, 2015
WDBJ-TV7 meteorologist Leo Hirsbrunner, right, wipes his eyes during the early morning newscast as anchors Kimberly McBroom, center, and guest anchor Steve Grant deliver the news at the station in Roanoke, Va., Thursday, Aug. 27, 2015. Reporter Alison Parker and cameraman Adam Ward were killed during a live broadcast Wednesday, while on assignment in Moneta. (AP Photo/Steve Helber)

A deadly shooting on live TV. Wall Street’s roller coaster ride. Biden considers a White House bid. 10 years since Katrina.

On Point Blog
On Point Blog
Our Week In The Web: August 28, 2015
Friday, Aug 28, 2015

You say #hashtag, we say, #forwhat? That, plus Usain Bolt and the ominous lurking Segway cameraman. Friday!

More »
Comment
 
Our Week In The Web: August 21, 2015
Friday, Aug 21, 2015

Do you even click? (And other reflections on link sharing and web commenting).

More »
6 Comments
 
Do You Recognize Amazon’s Workplace Culture? Tell Us!
Tuesday, Aug 18, 2015

Do you recognize the workplace conditions described in a recent New York Times piece on Amazon? We want to hear from you!

More »
5 Comments