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Table of Contents

Lead Story

Tablets, smart phones or the cloud for mobile payments?


Industry Update

Global Payments, payments community respond to reported breach

Gift card providers pull out of N.J.

Trade Association News


Seven essential steps for creating a successful social media strategy

Marc Beauchamp
Performance Training Systems

Research Rundown

Mobile payment experts disagree on NFC dominance

Durbin's impact on major banks

Selling Prepaid

Prepaid in brief

Demands of a standardized fee disclosure box

How consumer segmentation leads to success


Has payment fraud become SOP?

Patti Murphy
ProScribes Inc.

ISOs and MLSs: How banking changes will affect you

Brandes Elitch
CrossCheck Inc.


Street SmartsSM:
Lessons for a lifetime

Jeff Fortney
Clearent LLC

Moving mobile payments to the next level

Nicholas Cucci
Network Merchants Inc.

In search of an ethical corporate culture

Dale S. Laszig
Castles Technology Co. Ltd.

The challenge of data breach reporting

Mark Brady

What matters most in a restaurant POS system?

Jerry Cibley
The POS Man

Company Profile

Chargeback Guardian Inc.

New Products

Mobile check deposit

Simply Deposit Mobile
RDM Corp.

Bundling mobile payments

All Inclusive Mobile Merchant (AIMM)
CardWare International, Resource Leasing Co.


Community and the payment pro


10 Years ago in
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Resource Guide


A Bigger Thing

The Green Sheet Online Edition

April 23, 2012  •  Issue 12:04:02

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Moving mobile payments to the next level

By Nicholas Cucci

No doubt about it: the future of mobile payments is coming - if not already here. Cash and credit card transactions are extremely inefficient compared to mobile commerce, which is organized. And digital transactions can be tracked. Yet we need a game-changing application that will take us to the next level.

Rationale for going mobile

The killer app

We are patiently waiting for that one game-changing solution to make mobile payments a reality. It must be safe, secure and sensible enough to make people throw away their three-dimensional wallets. Sure, solutions like Square Inc.'s dongle and Intuit Inc.'s GoPayment have been released, but we still don't see people jumping in with both feet. What is the game changer?

In March 2012, Apple Inc. received U.S. patents for a technology dubbed iWallet, a digital platform that will give users complete control over their financial accounts directly on their mobile devices. The devices will also deploy near field communication technology. Other new Apple patents cover security measures to keep financial information safe or technology to house all of these new features. (See

What could iWallet provide for mobile payments?

All of this seems like a lot to take in. Are the mobile devices in use now capable of handling these types of tasks? Are they even fast enough? I did a little testing of my own. My new Apple iPad reached 4G speeds of 11.19 megabits per second download and 5.59 megabits per second (Mbps) upload, with a latency of 78 milliseconds. These speeds are plenty fast to run tasks like iWallet and more. But the average broadband speed for the United States was 3.0 Mbps for downloads and 595 kilobytes per second for uploads. (See

Moreover, significant stretches of the country where advanced mobile networks have not been built out cannot access even 3G coverage, according to a February release by the Federal Communications Commission. Yet there's hope. New FCC initiatives are expected to expand high-speed Internet service to millions of consumers throughout the country by the end of the decade.

Nicholas Cucci is the Director of Marketing for Network Merchants Inc., a graduate of Benedictine University and a licensed Certified Fraud Examiner. Cucci is also a member of the Advisory Board and Anti-Fraud Technology Committee for the Association of Certified Fraud Examiners. NMI builds e-commerce payment gateways for companies that want to process transactions online in real time anywhere in the world. Contact him at

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Simpay | USAePay | Impact Paysystems | Board Studios