shameless rumormongering

Rumors & Acquisitions: Big Shots and Billionaires


A billion rumors:

GRUMPY INCUMBENTS. Mobile payments sure make people catty. PayPal sent Betabeat several explicit and unsolicited statements about Google’s announcement of its NFC-chipped phone, including: “As the mobile payment leader (we expect $2  billion in payment volume to transact over mobile devices via PayPal in 2011), we’d be happy to comment. Put simply–before you try mobile (or any other payments) solution, you need to be great at payments.  There is so much more than just technology involved to get payments right. Above all (and this is something that many tech pundits simply forget), any new solution must deliver something better than the existing way to do it. Not just different… better.”

Visa chose to blog its disapproval. “It is certainly news that Google is getting in the game by testing a new payment service… something that we’ve been doing around the world for the past couple of years.  But I’d remind you that launching NFC payments in the U.S. this year was just one small aspect of our recent announcement regarding Visa’s plan to provide a global, comprehensive solution enabling consumers to transact wherever, whenever by using a card, a computer or a mobile device which kicks off later this year.” Read More