Posts Tagged ‘MasterCard’
This portends something big: MasterCard is opening its payment platform to developers. PayPal, who’ve been open to developers since November 2009, had to respond. Visa will be forced to follow suit. Perhaps Apple’s recent payment patent got everyone moving?
Competition in this area is a good thing and, hopefully, will make accepting payments easier, especially for small values (less than one US dollar). That could unleash a wave of innovative services that do not need to be funded by advertising. Right now, payment for small items or services when mobile is next-to-impossible. And paying for information in small bites is certainly not possible. Happy to pay for one article out of a magazine, but don’t want to buy the whole thing? Sorry. Want to read just the bullet points from the WSJ’s famous summary section without buying the entire paper? Can’t. There’s a treasure-trove of information and services waiting to be unleashed, but for the lack of a trustworthy, convenient payment mechanism.
Perhaps we’re about the see that change.