Mobile Money: Will A Cell Phone "Bump" Replace Cash?

Mobile Money: Will A Cell Phone "Bump" Replace Cash?

Cell phone and QR code technology is converging to allow payments simply by "bumping" phones. Kojo explores the future of digital payments to both merchants and individuals.

Handing cash to your babysitter or swiping a credit card at the store may soon be obsolete, as QR codes and digital readers make it possible for individuals to transfer money to each other by "bumping" cell phones. The potential for this new payment system is huge and the race is on to define the technology and dominate the market. Tech Tuesday examines the players and the dueling devices in the emerging realm of mobile payments.

Guests

Joseph Bailey

Research Associate Professor, Decision, Operations and Information Technologies at the Robert Smith School of Business, University of Maryland

Andy Schmidt

Research Director, CEB TowerGroup

Frank Gruber

CEO and Executive Editor, Tech Cocktail

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The Kojo Nnamdi Show is produced by member-supported WAMU 88.5 in Washington DC.