ENTRIES TAGGED "Home Depot"
iWallet may arrive yet, PayPal's new partnerships prepare for launch, and mobile payments hit fast food.
iPhone patent application focused on “a method for conducting a financial transaction”
The US Patent & Trademark Office published a new patent application from Apple this week that indicates potential advancement on the iWallet mobile payment front. Jack Purcher at Patently Apple dug in to find what set this patent application apart from other iWallet patent applications previously filed and found that this application “focused on ‘A method for conducting a financial transaction‘” (emphasis is Purcher’s).
Purcher pulled out 14 specific claims in the patent related to conducting a financial transaction. The first not only describes how the transaction will take place, but indicates near field communication (NFC) could be accommodated:
“1. A method for conducting a financial transaction comprising: taking a picture of a first code displayed on a transaction terminal using a camera of a portable electronic device; and sending data from the portable electronic device to the transaction terminal to conduct the financial transaction with the transaction terminal using a near field communication channel or another wireless communication channel, or both, wherein the data is derived from the first code to enable the transaction terminal to verify that the portable electronic device is physically located near the transaction terminal.”
Google Shopping Express rumors, consumers want free — not same-day — delivery, and PayOne sues Home Depot.
Is Google gearing up to battle Amazon head-on?
The Google e-commerce rumor mill continued churning this week. Alexia Tsotsis reported at TechCrunch that Google is “stealthily preparing to launch an Amazon Prime competitor called ‘Google Shopping Express.’” Her sources indicated the service would undercut Amazon Prime’s annual fee of $79 by $10 to $15 and offer same-day delivery from local retail stores such as Target, Walgreens and Walmart. Tsotsis speculates that in launching this service, Google could make use of its recent purchases — BufferBox and Channel Intelligence — to corner the online-to-offline retail market.
Paulo Santos noted in a post at SeekingAlpha that if and when Google launches this service, Amazon will most likely match the annual price. He said estimates on the number of Amazon Prime members vary widely, but if the 7 to 10 million number is accurate, price matching would be a $70- to $150-million hit to Amazon’s bottom line. Santos concluded, “The move is a positive for Google, mild negative for eBay and strong negative for Amazon.com.”