The article starts off by saying what if you could send money to a friend that you owed money to through a phone rather than going to an ATM or mailing a check. Having something like this would be awesome but to me it sounds a little unrealistic. People in Japan and Europe can already do this. U.S. consumers have embraced online shopping and e banking. Americans will soon be ready to move to person-to-person mobile payments.
To me it still seems that payments done on a mobile phone will be hard to do. “A recent poll by Mercatus, a financial consulting firm, showed that the proportion of people ages 26 to 34 who had used a cell phone to buy goods or pay for a product or service had doubled, to 14%, in the past year.” This could be a reason why banks and different financial companies are trying to add this person-to-person payments on mobile devices. People are on their phones everyday and having a feature like this could be very effective. Companies like PNC Financial, Bank of the West, and the Boeing Employees Credit Union are teaming up to make this happen and this will hopefully be launched in 2010. The one question is how is this going to work? It works by signing up for a service through your bank or another provider. Enter an e-mail address or phone number to send money to anyone you know. Your bank's person-to-person payment system will be included with your regular online banking, and the funds will be debited from your account. At the other end, the recipient may get the cash deposited directly into an account or have it posted to an existing credit card or a prepaid card.
This just shows how lazy people are these days. People are lazy as it is, and having something like this on your phone will allow people to sit around more and not have to make there payments in person. The idea of this is cool though, it just shows how technology is changing the world today.
The info is ok, but the writing is convoluted and confused. Try to write clear, declarative statements.
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