iPhone cover acts as digital wallet, packs a programmable credit card
31.12.69
Geode doesn't use new technology, doesn't lack any new infrastructure or equipment on the retailer part, and can be used anywhere credit, debit, or loyalty cards are accepted. While the initiatives from MasterCard, Visa, Google, and the others are overambitious projects that involve broad partnerships, wholesale changes in retail and phone equipment, Geode works with all existing retailers. It acts as a go to the broader deployment of near-field communication, or NFC, which allows the phones themselves to act like credit cards. Geode, which truly started as a crowd-sourced Kickstarter project, was a darling of the CTIA Wireless show, winning an award in the unstationary commerce category. But Ross believes that the broad deployment of NFC and mobile payments is still a while away. With NFC coming to phones already, it would emerge the Geode's usefulness has a shelf life. Given the buzz that it's gotten, it could be the start of an interesting run for the Geode. Geode emerges as the sensitive payments segment explodes. It has also gotten 3,000 units preordered, with 1,000 ordered in the first two and a half days. At that place, the Geode could work in conjunction with NFC. It was a critical topic at the conference, with executives from both MasterCard and Visa making keynote speeches about the opportunities that take place from mobile payments.
Source: CNET