CTIA: PayPal Talks Future of Mobile Commerce

first_imgWhy IoT Apps are Eating Device Interfaces Tags:#conferences#CTIA 2011#mobile#web Related Posts Role of Mobile App Analytics In-App Engagement The Rise and Rise of Mobile Payment Technologycenter_img Fabio Sisinni of PayPal’s Mobile team was at this week’s CTIA Wireless 2011 conference in Orlando, Florida to talk about the company’s vision for mobile commerce. Paypal’s usage on mobile phones has soared over the past few years, and the company is now processing around $6 million in mobile transactions per day. It’s on track to produce a total payment volume of $2 billion in 2011 on mobile, Sisinni says, a figure that’s up from just $24 million in 2008.Along the way, PayPal has been experimenting with different types of technology, including everything from barcode scanning to NFC (near field communication).PayPal Wants to be Your “Wallet in the Cloud”In short, PayPal’s vision for mobile is a “wallet in the cloud.” Within this wallet, a customer could select any one of their payment instruments to make a purchase – a credit card, a debit card, a particular bank account, etc. But this vision isn’t just for smartphones – PayPal wants to expand to every other Internet-connected device, too, including set-top boxes, TVs and even billboards. For example, PayPal would like to be a payment option embedded in the signage advertising a particular movie – just tap the sign and purchase tickets right there on its digital screen. It could also show up in signage related to local transit systems, too, so you could use PayPal to buy your train ticket or subway pass.But PayPal knows that mobile payments aren’t just a necessity for modern societies with smartphones and Web-connected TVs, it also has a place in the developing world. On this front, there have been recent initiatives to address this market, like Paypal’s agreement with VIVO, the largest mobile phone service provider in Brazil and the southern hemisphere. Under the new agreement, subscribers can send in payments for airtime, goods and services using their mobile phones. The technology doesn’t require an “app” to work, but instead uses USSD technology, which provides a menu directly on the phone where different payment choices can be made. (USSD is a protocol used by GSM devices for basic data communication.)Technology ExperimentationWhen asked about NFC (near field communication), a short-range wireless technology for data exchanges between devices, and most often associated with digital wallet initiatives, Sisinni stressed that PayPal is not betting on just this one new technology. The company’s goal is to be a “technology agnostic wallet in the cloud,” he said. The service has to be ubiquitous. It has to work on any device, running any operating system. That said, PayPal has been experimenting with NFC though its partnership with Bling Nation, an NFC-based startup where consumers stick “BlingTags” (NFC-enabled stickers) on their phones to pay for goods and services in the real world. When used at participating merchants, the money is deducted from the user’s PayPal account just by tapping or waving their phone at checkout.PayPal also acquired the popular barcode-scanning application RedLaser from Occipital last summer, and now provides that same technology to other mobile developers through a software development kit. This kit lets third-party developers build apps that use RedLaser’s scanning technology in apps of their own creation.Another experimentation was the integration of Bump into PayPal’s mobile applications. With Bump’s technology, users can tap their phones together to send money.This sort of experimentation with new technology will continue over the next few years, Sisinni says. But at the end of the day, PayPal just wants to make sure it’s a discoverable choice when there’s an option to pay – whether with your computer, your phone, your tablet or whatever device comes next. sarah perez What it Takes to Build a Highly Secure FinTech …last_img read more

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Opportunity Creation and Opportunity Capture

first_imgThere are two major segments into which sales activities can be categorized: opportunity creation and opportunity capture. They are different, and success in one does not mean success in the other.If there is anything that most salespeople and sales organizations could stand to improve, it’s opportunity creation. Opportunity creation requires that one nurture their dream clients and prospect. It also requires that they follow up on leads.The work of opportunity creation tends to be neglected. It’s the hard work of trying to open relationships, something that many people struggle with, and one of the more difficult aspects of sales for many salespeople. This is made worse by so much noise about how none of this work is necessary, that inbound marketing and social channels will fill the pipeline beyond anything a salesperson could produce otherwise. A lack of opportunities is often exacerbated by sales managers who don’t like to have to hold their people accountable for the activity that generates new opportunities. They don’t want to be micro managers, and they don’t know that they should start as macro managers and work to micro when necessary.But, without opportunity creation, there is no opportunity capture. And without opportunity capture, the end is not far off.Opportunity capture is a game of effectiveness. It isn’t enough to create opportunities without also possessing the ability to play the end game and win deals. If prospecting is difficult, winning can be even more difficult.Winning requires a complex array of attributes and skills, some of which look like voodoo and black magic, and some of which are simply difficult to obtain. There are a certain set of attributes that build influence, the known, liked, and trusted part of sales (these make up the first half of The Only Sales Guide You’ll Ever Need). Then there are a number of skills that must be mastered, like commitment-gaining, leveraging business acumen, managing change, and leading your clients as a peer (these skills make up the second half of The Only Sales Guide You’ll Ever Need). This is the advice part of the two ingredient recipe that makes one a trusted advisor, a title that can only be bestowed upon the holder by their client after is has been earned.If opportunity capture was easy, win rates would be much higher than they are for most sales organizations. But the attributes are too rare in the right combinations, and even rarer in their development. The skills are difficult to teach, and more difficult to master.Most salespeople and sales organizations would do well to separate these two activities in their management, their reporting, and their development. For most, equal attention to both would provide the best plan for an overall improvement in their results.last_img read more

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Two Chinese nationals among three killed in Haryana explosion

first_imgThree persons, including two Chinese nationals, were burnt to death when a boiler exploded at an animal feed manufacturing unit in Nuh’s industrial area on Sunday. The deceased were identified as senior engineer Jin Jin Yang, production engineer Jang Yang and Vicky Rajput, an operator. Vicky was a resident of Sohna in Gurugram.Nuh Superintendent of Police Sangeeta Kalia said the incident took place around 3.30 p.m. when the boiler in the Pusilin Biotechnology Private Limited exploded during a repair. “Vicky was carrying out some welding to repair the boiler and the two Chinese nationals were standing close to him when the boiler exploded causing the fire. All three were engulfed in the flames and died on the spot,” said Ms. Kalia.The company is a manufacturer, wholesaler and trader of animal and poultry feed. Set up in 2017, it employs 11-25 people.Ms. Kalia said preliminary investigation revealed that the mishap was due to lack of proper maintenance of the boiler. and the police were trying to contact the management officials. “A case will be registered against the management. We are trying to procure documents about the periodic maintenance of the boiler,” said Ms. Kalia.Five fire tenders from Nuh and Sohna were called to put out the fire. Locals claimed that the fire tenders took 30 minutes to reach the spot.The charred bodies were pulled out after the fire was doused and sent to the Shahid Hasan Khan medical college for post-mortem.last_img read more

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