source: http://www.businessinsider.com/whatever-happened-to-google-wallet-2012-4
I still remember in grade 4 when I saw my friend with a PalmPilot in class. I couldn’t believe that such as tiny piece of toy could contain so many features. Flash forward 9 years, mobile technology has made some astounding advances, such as the integration of Near Field Communication (NFC) in smartphones. One of the most powerful aspects of NFC is its ability to change the mobile ad industry. For example, thousands of people pass by shop numerous shops in a mall. Using NFC technology, developers can build an app that can display discount coupons from the stores onto a user’s mobile device every time the user passes by. Furthermore, after viewing the discount, one can easily redeem the offer and pay via their mobile devices with the help of NFC. Building such an advertising platform could open a new avenue of revenue for tech companies such as Apple through their new Passbook app and 430 million user credit card details. However, for now, the tech giant has decided opt out of this opportunity. Likewise, the app, Google Wallet, only has at most 100 000 users out of the millions of Android users worldwide. As a result, this lack of big competition opens the NFC market to a lot of emerging startups.
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