Assignment: Management Of Technology Innovation
Article: A Battle Emerging in Mobile Payments By 2018, roughly 5 billion people had broadband subscriptions.
Mobile payment systems developed by Apple, Samsung, and Google used NFC chips, merchant banks and Visa or MasterCard to complete transactions wirelessly.
In Asia and Latin America mobile payment systems such as Alipay used QR codes. Still other competitors such as PayPal used a downloadable application and the Web to transmit a customer's information.
In India and Africa, systems like Inter-Bank Mobile Payment Service and M-Pesa were enabling "unbanked" and "underbanked" people access to fast and inexpensive funds transfer.
A mobile payment system that cuts out the credit card companies could potentially save (or capture) billions of dollars in transaction fees. Credit card companies and merchants thus both had high incentives to influence the outcome of this battle.
Task
• What are some of the advantages and disadvantages of mobile payment systems in a) developed countries and b) developing countries?
• What are the key factors that differentiate the different mobile payment systems? Which factors do consumers care most about? Which factors do merchants care most about?
• Are there forces that are likely to encourage one of the mobile payment systems to emerge as dominant? If so, what do you think will determine which becomes dominant?
• Is there anything the mobile payment systems could do to increase the likelihood of them becoming dominant?
• How do these different mobile systems increase or decrease the power of a) banks, b) credit cards?
Format your assignment according to the give formatting requirements:
• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.
• The response also includes a cover page containing the student's name, the title of the assignment, the course title, and the date. The cover page is not included in the required page length.
• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.