Shelly Palmer Radio Report – August 16, 2012

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There’s no doubt that mobile payments have been growing steadily for the past few years, but its still pretty easy to leave the house without noticing a real difference in the way people pay for things. That might change soon. Last week, Starbucks struck a deal with Square to accept mobile payments in all of its U-S locations and now, a large group of big-name stores are planning to enter the mobile payment game together. Target, Wal-Mart, 7-11, CVS, Best Buy and Sunoco are among the 14 companies that have already signed on to a new venture called the Merchant Customer Exchange, that will allow customers to pay in stores using only their mobile devices. The companies will do their best to woo buyers with targeted promotions available only on smartphones. It’s still an uphill battle for those who are pushing for the success of mobile payments. A recent survey found that 60 percent of the respondents were wary of putting financial information on their devices.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.

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