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Marketing 6218 Chip Besio

Marketing 6218 Chip Besio. The History of Erosion of Cash. 1850: American Express launches in Buffalo as an express delivery business. 1885: American Express introduces the traveler's check. 1914: Texaco issues the first oil-company credit card.

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Marketing 6218 Chip Besio

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  1. Marketing 6218 Chip Besio

  2. The History of Erosion of Cash 1850: American Express launches in Buffalo as an express delivery business • 1885: American Express introduces • the traveler's check • 1914: Texaco issues the first oil-company • credit card. • 1950: The multi-purpose charge card is born when businessman Frank • McNamara creates the Diners Club card, a cardboard card accepted at a few Manhattan restaurants. • His inaugural transaction is known • as the "First Supper”. • 1958: BankAmericard, • the ancestor of Visa, issues the first widely accepted credit card.

  3. The History of Erosion of Cash 1975: Referring to traveler's checks, American Express coins its tagline. "Don't leave home –Without It” 1997: MasterCard launches its "Priceless” campaign. 1997: Coca-Cola unveils vending machines that accept the first mobile payments, in which customers text the machine and it delivers the drink 2012: The Canadian Royal Mint announces It will stop producing pennies, The country's finance minister, Jim Flahertv. says it is a "currency. without any currency”, -Richard Nieva

  4. The History of Erosion of Cash

  5. The History of Erosion of Cash • 43% • OF ALL ADULT • AMERICANS SAY • THEY'VE GONE A • WEEK WITHOUT • PAYING CASH 47% OF ALL NYC TAXI RIDES ARE PAID BY CREDIT CARD S0URCES: NYC. Taxi and Limousine Commission [taxi] 50 to 66% OF THE VALUE OF U.S. CURRENCY IS HELD ABROAD [FEDERAL RESERVE CURRENCY]

  6. The Future of Money • Introduced in 2009 in Open Source Software • Person to person exchange system • Not controlled or regulated by any central authority • Has been involved in many corrupt enterprises US Marshalls to Auction $17.4 million in seized Bitcoin

  7. The Future of Money TO ME THAT IS THE PINNACILE OF TECHNOLOGY WHEN THE TECHNOLOGY DISAPPEARS COMPLETELY -Jack Dorsey, CE0, Square (Twitter Founder) WE ARE REINVENTING PAYMENTS FROM THE GROUND UP.'' -Keith Rabois, C00, Square (PayPal, Linked In)

  8. The Future of Money • l'M N0T QUITE • SURE WHAT • ALL THE HYPE • IS ABOUT. IT • IS COMMON • KNOWLEDGE • THAT SQUARE • IS NOW BEING • SURROUNDED • BY MANY • COMPETITORS • WITH REAL • BUSINESS • MODELS.'' • -Doug Bergeron, • CE0, VeriFone Two months after Square was introduced PayPal and Verifone introduced similar readers and set their processing fee at 2.7% undercutting Square.

  9. The Future of Money Vs. Vs.

  10. The Future of Money Created a Joint Venture “Isis” to create Digital Wallets to Compete with Square, et al. 150,000 Merchants At Isis, Jaymee Johnson (Marketing Chief) predicts the carriers’ wallet will hit the market with its technology, and business arrangements, already sorted out. When it fully launches, the carrier alliance will bring an armada of partners: all the major credit card brands, three banks with 100 million customers, and makers of merchant terminals and phone handsets. Currently in Austin and Salt Lake City

  11. The Future of Money Revenues from Two Huge Industries Will Soon Begin Flowing Over Mobile Phone Networks

  12. The Future of Money Money Goes Mobile Purchase payments made via mobile phone wallets are projected to soar to $1.4 billion by 20I7 S0URCÊ: JAVELIN STRATÊGY A Walled Garden Currently, only 25 of the top 100 U.S. retailers are set up to accept such “contactless payments”—including McDonalds, CVS, and Home Depot.Moreover, only 2 percent of smart phones in use have NFC chips, which means most people can’t yet pay using a digital wallet.

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