The blog has no correlation with Victoria Wood's fantastic book "It's All About the Money, Honey!!"
This month lets look at how the money this month. I am not talking about the banking apps. They have been around for sometime now.
Updates Image : http://mashable.com/2012/06/26/mobile-payments-square-paypal-here/
Lets focus on two technologies for this month
1. Square
2. NFC Payments
First of all Square has made it easy for the smaller vendors to accept credit card payments and second it removes the need of big devices. The best thing about sqaure is its design. The slick design is definitely a winner.
The audio jack has multiple rings : inputs and outputs. For example : a headphone without mic (works only as output) two rings and the one with mic has 3. Square decided to use the inputs for the inputs of the credit card.
Square uses a magnetometer , that connects to the ground tip and mic ring of the headphone jack. The magnetometer converts the magnetic fields in the credit card into an analog electrical signal to send the data read from the card over the microphone input to the app to decode and interpret the analog signal into usable data.
Source : http://hackaday.com/2012/04/18/reading-credit-cards-with-a-tape-head/
With a better usage if millions of already available audio ports, Square has shown excellent product design and great usage of widely available assets
Another technology under discussion this month is NFC payments.
NFC : Near field communications
AT the beginning of the year some banks announcfed that starting 2015 , they will be using NFC.
What if I could simply use my phone or some device to pay for everything. I don't need a physical credit card.
It will definitely take some time before all the transactions are moved to NFC.
NFC (Near Field Communication) is not a new technology. It can be called as an extension to RFID.
It has a set of protocols that enable devices to establish a radio communication with each other. The range here is very less , hardly upto 10cm.
This is anotehr standard of wireless communication but the difference is it uses electromagnetic induction to transfer data. One device induces electric current to the other active or passive device.
With passive device , no power supply is required.
ANy NFC device jas three modes it can work in.
1. NFC Card Emulation : Used for payment and ticketing. The phone acts like a credit card here
2. NFC Read/Write or dual mode : This is used for writing the data to passive components or reading the data from passive/active components
3. NFC peer to peer : So two devices will talk and exchange information
It is said that apple will be changing the game dramatically with some kind of payment system
Read more here :
http://www.wired.com/2014/04/its-only-a-matter-of-time-before-apple-becomes-the-next-way-you-pay/
This fall apple is going to come with some kind of payment system , iPAY may be. But as of now. Its all about speculations.
This month lets look at how the money this month. I am not talking about the banking apps. They have been around for sometime now.
Updates Image : http://mashable.com/2012/06/26/mobile-payments-square-paypal-here/
Lets focus on two technologies for this month
1. Square
2. NFC Payments
First of all Square has made it easy for the smaller vendors to accept credit card payments and second it removes the need of big devices. The best thing about sqaure is its design. The slick design is definitely a winner.
The audio jack has multiple rings : inputs and outputs. For example : a headphone without mic (works only as output) two rings and the one with mic has 3. Square decided to use the inputs for the inputs of the credit card.
Square uses a magnetometer , that connects to the ground tip and mic ring of the headphone jack. The magnetometer converts the magnetic fields in the credit card into an analog electrical signal to send the data read from the card over the microphone input to the app to decode and interpret the analog signal into usable data.
Source : http://hackaday.com/2012/04/18/reading-credit-cards-with-a-tape-head/
With a better usage if millions of already available audio ports, Square has shown excellent product design and great usage of widely available assets
Another technology under discussion this month is NFC payments.
NFC : Near field communications
AT the beginning of the year some banks announcfed that starting 2015 , they will be using NFC.
What if I could simply use my phone or some device to pay for everything. I don't need a physical credit card.
It will definitely take some time before all the transactions are moved to NFC.
NFC (Near Field Communication) is not a new technology. It can be called as an extension to RFID.
It has a set of protocols that enable devices to establish a radio communication with each other. The range here is very less , hardly upto 10cm.
This is anotehr standard of wireless communication but the difference is it uses electromagnetic induction to transfer data. One device induces electric current to the other active or passive device.
With passive device , no power supply is required.
ANy NFC device jas three modes it can work in.
1. NFC Card Emulation : Used for payment and ticketing. The phone acts like a credit card here
2. NFC Read/Write or dual mode : This is used for writing the data to passive components or reading the data from passive/active components
3. NFC peer to peer : So two devices will talk and exchange information
It is said that apple will be changing the game dramatically with some kind of payment system
Read more here :
http://www.wired.com/2014/04/its-only-a-matter-of-time-before-apple-becomes-the-next-way-you-pay/
This fall apple is going to come with some kind of payment system , iPAY may be. But as of now. Its all about speculations.
