Mobile payment entrepreneurs need inspiration
Updated: 2013-05-22 21:51:49
If you prefer to pay with plastic rather than with your smartphone, you're not alone. Despite ongoing hype about how mobile payments are poised to take over the way we pay, most people seem happy to stick to what they've got.
As Apple CEO Tim Cook said in an earnings call last week, mobile payments are "just getting started" and have yet to reach a tipping point with consumers. That's good news for entrepreneurs, since opportunity abounds if you're innovative enough to create something that will stick. 
A positive outlook helps get through the day, but too much of it can really land you in trouble when it comes to your finances. In fact, a skeptic would say that lenders, some of them anyway, have built profitable business models on our excess optimism.
Last week, Colorado became the ninth state to limit employers' use of credit reports when checking job applicants' backgrounds. Now, at least 13 other states -- and even some municipalities -- are eyeing the practice, which has grown increasingly controversial at a time when nearly everyone knows at least someone who's been thrown into unemployment through no fault of their own. 
In loving tribute to my mother this upcoming Mother's Day, I'd like to thank my mom for teaching me how NOT to manage money. Don't worry, she won't be offended. She'll be the first to admit that she has never managed money well and has made numerous financial blunders during her lifetime. And that's how I learned.
Don't worry, she won't be offended. She'll be the first to admit that she has never managed money well and has made numerous financial blunders during her lifetime.
Yes, I have made money mistakes. Who hasn't? But I am far more financially savvy than my mother.
Several months ago, my favorite coffee shop in Austin switched from using a traditional credit card reader to the free Square device that attaches to an iPhone. I groaned when I saw it. Every time I swipe my card through a Square reader, the whole transaction feels slower and more cumbersome and often takes a few tries to get right.
This week, Square introduced a new product, the Square Stand, designed to fix that problem and make transactions faster and more seamless.
It has recently come to my attention that my credit cards have been frolicking buck naked in public lo these many years, their account numbers, card validation codes and expiration dates on full display for tout le monde to see.
This innocent indiscretion seemed perfectly harmless until I stumbled upon an online company called MaskYourCard (get the phonetic?) that offers to cover up the good bits on my chits with custom-made, wraparound bandages that sell for a dollar a pop, half off for Christian-themed strips. For $10, you can design your own.
When it comes to credit report errors that are hard to get fixed, not even U.S. senators are immune.
At a senate hearing held Tuesday to discuss the country's controversial credit reporting system, three Democratic senators sitting on the panel, Sen. Claire McCaskill of Missouri, Sen. Brian Schatz of Hawaii and Sen. Bill Nelson of Florida, confessed that they, too, had found errors on their credit reports. 
If sharing information about what you buy with strangers makes you squeamish, then you may want to think twice about swiping your credit card.
Everyone from the IRS to your neighborhood burger joint wants to know what you charge to your card. And, increasingly, new tools and services -- courtesy of credit card issuers and other businesses -- are allowing them to sneak a peek.
The Provocative New Bill That Would Slash Student Debt by Jeremy Woods on May 21, 2013 Elizabeth Warren has announced her first bill as freshman senator from Massachusetts : giving students the same discounted interest rate on their loans that big banks get . The Bank on Student Loan Fairness Act is controversial , reducing the federal Stafford loan rate from 3.4 to the discount window price of 0.75 but as she told Huffington Post Every single day , this country invests in big banks by lending them money at near-zero rates . We should make the same kind of investment lending money to students It’s a sound argument , but one that not everyone is . accepting One of the reasons big banks like Goldman Sachs and JPMorgan Chase enjoy such tiny interests rates is that they’re considered low-risk
With summer fast approaching, responsible credit-holders are looking for ways to earn cash back on purchases small and large alike. These five cards are the best offerings currently available.
With credit cards quickly becoming old news, many people are looking for modern, secure ways to pay for everyday items. These four methods are the best new solutions available to consumers.
Are You Throwing Away Money on Medical Bill Errors by Jeremy Woods on May 16, 2013 Ever receive a bill for a visit to the doctor’s office that just made your jaw drop We all know that medical care can be outrageously expensive , but paying 400 for what amounts to three aspirin and a hearty clap on the back has a way of making you feel it in your bones . Still , there’s something even worse than overcharging , and that’s being charged for something that never happened at all . How do you detect errors in your medical bill , and what do you do when you find them For those of us who didn’t go to school for medicine or accounting , an invoice for complex procedures or multiple prescriptions can look like a document written in an alien language . The scientific nomenclature can be dizzying ,
Are Penalty-Free Credit Cards Really All That by Jeremy Woods on May 14, 2013 If you’ve noticed commercials on TV or the radio lately that advertise no-penalty credit cards , it’s no surprise they’re a hot commodity now . Citigroup Discover and Wells Fargo are just a few companies that offer no-penalty cards . Issuers promise to eliminate one or all penalty fees , including late fees , increased interest and over-limit fees . Sounds great , right Well , not so fast . While no-penalty cards definitely seem attractive , the old saying Nothing in life is ever free” comes to mind . Before you rush out to apply for a card that you think will never penalize you , read on to find out how these promises can be . misleading If you could really benefit from it , you probably don’t qualify for . it
Even though credit card use is decreasing, it still makes sense to use credit cards for everyday purchases. There are a variety of perks that come with the practice – if you pay your bills on time.
Many careers in sociology require individuals to have a graduate degree in sociology. While in graduate school, taking classes and doing your own research will take up much of your time, and many sociology departments recommend that graduate international students do not have a job outside of the department. So, how do graduate students in [...]The post Sociology Graduate School Funding appeared first on The International Student Blog.
Credit card companies are monitoring spending behaviors to stem the tide of identity theft and credit card fraud. This article outlines what card issuers are using to identify these threats.
Magical New Bank of America ATM Dispenses Rainbows and Sunshine by Jeremy Woods on May 9, 2013 The little money machine on the street corner is about to get a serious makeover . Since 1959, the public has counted on the ATM for simple banking transactions that don’t require a visit to the actual bank . We’ve been depositing money in envelopes and taking cash usually in increments of 20 from the machines’ slots with relative ease for years , and for the most part , we haven’t been dreaming about the future of the ATM . After all , what more could those familiar dispensers have to offer us Well , we’ll get a chance to find out very . soon According to a recent CNN Money article Bank of America is getting ready to introduce the Teller Assist Machine , a new ATM featuring a high-tech user
, . With the Card Act Revision , the CFPB Gives Credit to Mr . Mom by Jeremy Woods on May 7, 2013 For stay-at-home spouses , getting credit has long been a pain in the ass . When the CARD Act passed in 2009, it required credit card companies to assess the independent income and resources of each applicant to determine if they’d be able to make payments . The result of that evaluation decided whether or not the person was eligible for a new line of credit or an increased limit on their account . But while the provision was designed in part to protect students by making sure that they didn’t drown in a sea of debt before getting themselves a real-world job it actively hurt stay-at-home moms and dads who either didn’t earn an independent income or who earned a small amount from part-time .
Knowing which perks your credit cards have is crucial in making them work for you as intended. This article outlines just a few ways you can use your cards to maximize perks and benefits.
Improving your credit score can be done through patience, awareness of what impacts the score and through negotiation. By following these tips, you can lay the groundwork for better credit.
The 5 Smartest Ways to Spend Your Tax Refund by Jeremy Woods on May 2, 2013 If you’re one of the lucky ones , you’ll have some money coming back to you this tax season . Of course , how you spend that money is certainly up to you , but before you make a down payment on that 60 TV or buy those tickets to the Super Bowl , slow down . Take a minute to think about how wise that purchase really is . Sure , buying a sweet gadget or taking a nice vacation will definitely make you feel good right now , but you’ve gotta remember something : tomorrow’s always out there , just waiting to get its hands on you and even more significantly , how you prepare for it will determine your . fate That TV’s not looking like such a good idea anymore , is it Why not use your tax refund for something like this
Are You Paying Too Much for Your Airline Tickets by Jeremy Woods on April 30, 2013 You wouldn’t spend ten bucks on bag of chips or throw down fifty for a latte , so what explains our willingness to pay top dollar for the privilege of sitting in a flying metal tube bound for Detroit Airline tickets are always going to be expensive , but if you’ve ever spent an afternoon hitting the refresh button on a deals site , you know that ticket prices do fluctuate . While this ebb and flow might look random , it’s not , and if you know what you’re doing you can exploit the system to get a deal that makes you feel good . Of course , as with anything , to formulate a plan you’ll need to ask the right questions . You’ve probably asked them before , but now it’s time for some . answers Should I wait or
Whether you are looking for your first credit card or already have several, it is important to avoid making three critical mistakes that many potential and current card holders make all the time.
In order to be secure, informed and without inconvenience, it is vital to alert your bank to any travel plans, check for added charges for foreign purchases, and have backup payment options on-hand.
How to Buy a Drink in Manhattan Without Spending a Single Dollar by Peter Diseth on April 25, 2013 Here’s a familiar scenario : a man walks into a bar . His journey from the front door of Manhattan’s EVR lounge to the bartender is unremarkable , but when he finally gets the bill for his dry martini , things get weird . He doesn’t pay with dollars and cents , but with a virtual currency . The dollar amount is converted to a new Bitcoin total a 15 EVR martini currently costs approximately 0.08 Bitcoin , according to CNN Money and he cashes out through the BitPay . app EVR is the first bar in New York City to accept Bitcoins as a form of payment , but it joins an already long list of vendors across the world that have jumped on the Bitcoin bandwagon . The system’s early popularity isn’t