Online currency and payment trends (Bitcoin, Paypal, etc.)
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Gone are the days when cash is king. Nowadays, there are a handful of ways people can pay for goods and services with just their smartphone. And small businesses can cut out the credit card middle man with payment tools like Square. With so many options and crazy jargon, it can be hard to keep up. For instance, have you wondered what a Bitcoin is? Come join this workshop where will we discuss online currency and payment trends, including Bitcoin, PayPal, Dwolla and Square. We will look at the advantages and disadvantages to the available offerings. We will also discuss how libraries can implement these currency systems and how they can best prepare. Biography ~ Rachel Eichen Rachel Eichen is a certified presenter who has had over three years of teaching experience. She has taught computer classes to passengers on the Grand Princess cruise ship, which included such topics as Adobe Photoshop and Microsoft Office. She also taught classes while working within the software industry. She enjoys learning about new technology trends and loves sharing this information with others. Rachel holds a Master’s degree in Library & Information Science and a bachelor’s degree in Technical Writing.
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Online currency and payment trends (Bitcoin, Paypal, etc.)
- 1. P R E S E N T E R : R A C H E L E I C H E N , N O V A R E L I B R A R Y S E R V I C E S ONLINE CURENCY AND PAYMENT TRENDS
- 2. MONEY, THAT’S WHAT I WANT
- 3. WHAT YOU NEED TO KNOW TODAY • Mobile Commerce is HERE – NOW! • “Normal” People are buying from their phones • The market is still wide open • Privacy & security will be the biggest issues http://www.flickr.com/photos/moriza/126238642/
- 4. BEGINNERS GUIDE TO MOBILE WALLETS • Amazon • I-Tunes • App-based purchases
- 5. PAYPAL • Request & send money via SMS • 2.9% transaction fee + $0.30 • Discounted Non-profit Rates (2.2%) • PayPal SMS or PayPal Mobile • Bump to exchange contacts & send money
- 6. SQUARE • Swipe Credit Cards via your mobile device • Can set up “employee accounts” • Free to Set-up • 2.75% Transactional charge • Instant Receipts
- 7. DWOLLA • Up and coming • Charges the recipient $0.25 per transaction. And the money sender has the option to assume this cost. • Right now mainly P2P • Ties-into Facebook and Twitter • Bank account (not CC)
- 8. NFC (NEAR FIELD COMMUNICATION) • Google Wallet: Beta/Limited Availability • Mastercard PayPass • Visa PayWave Benefits: Stays with you, ease of use,
- 9. GOOGLE WALLET • Libraries can set –up “nonprofit accouts” – 0% transaction fee on credit cards!!!
- 10. SECURITY AND PRIVACY ISSUES Protect Yourself: • Safe/Change Pwds • Lock Phone • Use “Find my Phone” • Hackers • Unsecured Transmissions • 3rd party access to your data • Pick Pockets!!!
- 11. BIOMETRICS • Motorola and others actively working on implementation • Fingerprint/Voice security on mobile devices Image from http://www.mobioproject.org/
- 12. LIBRARIES TAKE ONLINE PAYMENTS
- 13. CRYPTOCURRENCY
- 14. WHAT IS BITCOIN? Digital: Bitcoins cannot be printed or physically made. They must be generated through computerized methods. Decentralized: Bitcoins are not regulated by any government or banking institution. Revolutionary: Transactions allow for anonymity and are almost instantaneous. Global: Bitcoins are borderless currency and can be used anywhere. Source: http://www.slideshare.net/few/introduction-bitcoin
- 15. BITCOIN IS SIMILAR TO GOLD • Limited in Supply • Encourages bartering • Middleman for currency exchange • Price fluctuation Source: http://www.slideshare.net/few/introduction-bitcoin
- 16. VALUE OF BITCOIN Today: 1 Bitcoin= $640
- 17. BITCOIN WALLET • Stores Bitcoins • Electronic signature is added • Records each transaction to ensure no duplicates • Online stores and local spots accept Bitcoin
- 18. HOW TO GET BITCOINS • Mining • Trading other currency for • Selling products/services for
- 19. MINING • Needs enormous computing power • Fast processor takes 3 years to mine a single coin
- 20. BUYING BITCOINS
- 21. PROS OF BITCOINS • Anonymous (sort of..) • Minimal fraud • Low transaction fees
- 22. CONS OF BITCOINS • Volatile • Not backed by an institution (no FDIC) • Subject to hackers
- 24. SHOULD LIBRARIES ACCEPT BITCOIN? • It’s not all bad • Money is money • Understand processing fees • Can exchange into USD on the spot • No libraries, yet..
- 25. RESOURCES • We Use Coins (intro to Bitcoin) • How to accept Bitcoin for small businesses • Online Donations: The Newest Way to Give (ALA) • Coinbase: Bitcoin wallet
- 26. QUESTIONS?
- 27. CONTACT INFORMATION adverb@gmail.com slideshare.net/adverb facebook.com/NovareLibraryServices Novare Library Services 877-816-9638 Rachel Eichen
Editor's Notes
- Will be able to pay at the end of March at any Home Depot with PayPal.PayPal Mobile Payments – $4 Billion in 2011
- Only on the Nexus S 4G by Google right nowNFC devices can be used in contactless payment systems, similar to those currently used in credit cards and electronic ticketsmartcards, and allow mobile payment to replace or supplement these systems. For example, Google Wallet allows consumers to store credit card information in a virtual wallet and then use an NFC-enabled device at terminals that also accept MasterCard PayPasstransactions.[7] Germany,[8] Austria[9] and Latvia have trialed NFC ticketing systems for public transport. And China is using it all over the country in public bus transport. In India NFC based transaction is being implemented in box offices for ticketing purposes.Usages of NFC:-Matching encrypted security code and transporting access key;Due to short transmission range, NFC-based transactions are possibly secure;Instant payments and coupon delivery using your handset, as we do with your credit card or debit card;Exchange of information such as schedules, maps, business card and coupon delivery in a few hundred milliseconds;Pay for items just by waving your phone over the NFC capable devicesTransferring images, posters for displaying and printing(wikipedia - http://en.wikipedia.org/wiki/Near_field_communication)isa Inc. and Visa Europe today announced that NFC-enabled smartphones from Samsung Electronics, LG Electronics and Research In Motion (RIM) have been certified for use with Visa’s mobile application for payments at the point-of-sale, Visa payWave.The Samsung Galaxy SII, LG Optimus NET NFC, BlackBerry Bold 9900, BlackBerry Bold 9790, BlackBerry Curve 9360 and BlackBerry Curve 9380 have been added to the list of Visa compliant payment products available for commercial deployment by financial institutions.All the new devices certified by Visa host the Visa payWave application on a secure SIM card and feature NFC (Near Field Communication) technology, the short range communications standard that enables mobile phones to securely transmit payment information to a contactless payment terminal.
- Lock down your phone – password protect!!!!!!!!! Iphone – turn on “Find My iPhone”