Saturday, August 30, 2008

GO-Tags May Replace Cash and Credit Cards [BusinessWeek]

A project at First Data, where Michael Capellas (formerly Compaq and MCI CEO) is CEO.  See the full story for more details, e.g., on how GO-Tags were used to program journalists and delegates at last week's DNC (for free snacks and drinks...)

With GO-Tag, First Data is placing a major bet on the fast-emerging world of mobile e-commerce. These pea-sized chips, each with a radio transmitter inside, can be stuck on a cell phone or ID badge to make paying for purchases fast and easy. The transactions are handled on the networks that First Data uses for traditional debit and credit cards. In recent weeks it has landed several major customers, including Blockbuster (BBI). GO-Tag takes about a second to complete a sale—much faster than using a traditional credit card or cash. "The ultimate goal is to eliminate the need for cash in our stores," says Blockbuster Chief Executive James W. Keys.

GO-Tags May Replace Cash and Credit Cards

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