CORAL SPRINGS, Florida, (http://www.financialnewsmedia.com News Alert) - New eCommerce & Biometrics Companies - including PayPal, Square, Wocket and other Mobile Payment Platform Providers- could shove traditional Merchant Service Providers aside as they bridge the offline and online worlds
Smart technology and mCommerce companies sprint to develop new mobile payment solutions as the industry evolves into a digital state: NXT-ID, Inc. (OTCBB: NXTD), Google Inc. (NASDAQ: GOOG), Ebay Inc. (NASDAQ: EBAY), Twitter Inc. (NYSE: TWTR), Apple Inc. (NASDAQ: AAPL) and Visa Inc. (NYSE: V)
Gino Pereira, CEO of NXT-ID, Inc. said, "[It] is a milestone for both NXT-ID and consumers that are concerned about the security of their wallet. We designed the Wocket specifically for the consumer of today that is still not willing to put all their payment and identity info on their smartphone. We believe Wocket is the solution that addresses security issues that consumers care about but still is convenient and easy to use."
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NXT-ID is introducing its innovative, patent-pending Wocket(TM) as the next natural step in the evolution of smart devices. Wocket(TM) is a next generation smart wallet designed to protect your identity and replace all the cards in your wallet, with no smart phone required. The Wocket works anywhere credit cards are accepted and only works with your biometric stamp of approval. See the full video presentation of the Wocket launch at https://www.youtube.com/watch?v=h2zPNB5i9CA
As the landscape in the payment industry continues to shift to the mobile side, companies like Ebay's (NASDAQ: EBAY) PayPal and Twitter's (NYSE: TWTR) Square are steadily growing and expanding their operations. Recently, the two platforms even began offering business loans. PayPal is perhaps the biggest monster of all in the mobile payment industry, having already gained 5.8 million new users in the first quarter of this year alone.
Google (NASDAQ: GOOG), who has also placed their hat in the mobile payment industry, has made strides to improve their technology. The company announced recently its platform is being tested for use with Google Glass. Apple (NASDAQ: AAPL) recently dropped a few hints as to how they will facilitate mobile payments moving forward with a TouchID fingerprint authentication technology. However, experts say this technology could be a ways off as Apple does its due diligence.
However, according to Business Insider, major credit card companies like VISA Inc. (NYSE: V) don't have anything to worry about just yet. [They] will remain an indispensable part of the chain because they don't actually process payments. They simply provide the rails that the credit card system runs on. Credit card processors like First Data that actually do the work of processing merchants' credit card transactions on the back-end are also in a strong position. http://www.businessinsider.com.au/new-credit-card-industry-market-competition-2014-5
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