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Why Google spring cleans its internet payment platform? PayPal catches on.
Find out at PSRA 2012 (30-31 May 2012, Jakarta) how payments companies are adapting to make their services more relevant.
SINGAPORE (24 April 2012). Google’s co-founder, Larry Page shutdown the ONE Pass payment platform for internet news website 2 days ago.
The reason: One Pass failed to catch on since it launched in February 2011 and was swept out with Google Talk free voice or text conversation Web applications for smartphones other than Android-powered handsets with the software built in.
Google is supposed to earn 10% from One Pass revenue by One Pass letting publishers set prices for online articles, as opposed to the 30 percent bite that iphone and ipad maker Apple takes out of transactions in gadget applications. But as mobile payments and smart phones become more popular, Google’s ONE Pass payment platform is losing out for more than year!
Since then, Page has made it a priority to get rid of products that are performing poorly so resources can be focused on more promising offerings, such as the more lucrative smart phone endeavors—the Google Wallet and NFC technology, choosing Citibank as its first card.
Many companies are following suit. Other mobile payment companies, such as Square (founded by Twitter’s Jack Dorsey), recently revamped their services. Recently, the company rolled out a full-bore cash register app for the ipad that’s been earning raves. The company charges a flat 2.75 percent transaction fee for all payments.
Not to be outdone, PayPal introduced its own triangle-shaped card reader, called Here, which does pretty much the same thing as Square, but at a slightly lower rate (2.7 percent). While the PayPal Here app is designed to be used hand in hand with the card reader, the app can also be used to accept checks, keep track of cash transactions, and accept credit card transactions in situations where you might not have your card reader present. Merchants such as plumbers can also use the app to send an invoice for services on the spot. The invoice comes to a customer via email, and can be paid using any credit card or via PayPal online.
Staying relevant as a player in the payments business is an important objective at Payments, Settlements and Remittances Asia (PSRA) 2012 (30-31 May 2012, Jakarta, Indonesia), Asia’s most informed meeting place for central banks, commercial banks, settlement systems architects and connected payment services providers. Visit www.arcmediaglobal.com/paymentsindo for more information.
“BY 2020, smart-device swiping will have gained mainstream acceptance as a method ofpayment by owners of smartphone and other devices, nearly eliminating the need in most cases for cash or credit cards,” according to a new U.S. study released on today, based on the survey results from 1,021 experts and other Internet stakeholders.
Some said that the changeover to “mobile wallets” is expected to unfold slowly due to resistance from those with a financial stake in the existing payment structure as well as other factors including privacy fears, a desire for anonymous payments and a lack of infrastructure to support widespread adoption.
Get to meet PayPal’s, APAC Regional Manager, Warren Hayashi as he expounds innovation in its payment system offering. He is responsible for the overall banking and payments industry relationship in the region and developing new ways for consumers and merchants to make and withdraw payments on PayPal. In his role, he has introduced payments solutions as well as established key payments and banking alliances across the region.
Plus get to benchmark with the following organisations, Bank Indonesia, Bank of Thailand, apps developer JMango, Multiply.com, Tata Teleservices, Bank Indonesia, Dhanalakshmi Bank, Bank Danamon, CIMB Niaga, BCA, Panin Bank Visa, Mastercard and more!
PSRA 2012 (30-31 May 2012, Jakarta, Indonesia) is an international conference that will aims to update, implement and enhance your settlement systems, technologies and techniques to empower you to meet the escalating needs of your customers.
Request brochure for more information.
Register in one of these 4 easy ways:
· Call +65 6818 6344
· Fax +65 6818 6343
· Visit www.arcmediaglobal.com/paymentsindo
Spring clean your payments channels and offerings for ensured profitability. See you at PSRA 2012.