Tuesday, March 2, 2010

Does anybody want to use cash anymore?

As if you do not have enough on your plate with social media all around you, here come new payment systems and subsystems. A long time ago, cash was the only thing a business accepted as payment. Then came store credit. After that the credit card was born. Debit cards debuted, paypal was born and now according to Daniel Roth’s article the future of money is the phone or the web.

That may not sound like much, but it sends a message: Moving money, once a function managed only by the biggest companies in the world, is now a feature available to any code jockey. Ivey is just one of hundreds of engineers and entrepreneurs who are attacking the payment ecosystem, seeking out ways small and large to tear down the stronghold the banks and credit card companies have built