QuickTake

When Your Phone Is Your Wallet


Listen Later

The future of money is in your pocket — the one you keep your phone in, not your wallet. A growing portion of the world’s population is making phone-assisted transactions. They’re using a variety of technologies, from the text-message system popular in Kenya to the seamless credit card-and-app arrangements that move money for every Lyft and Uber ride. It’s a revolution that’s lagged in the U.S., despite offerings from Apple Inc. and a range of big retailers. In addition to providing convenience and sometimes lower fees than credit cards, these mobile-payment systems are connecting millions of previously unbanked people: In China, some beggars hold out bar codes instead of tin cups. In places such as Sweden where the apps are especially popular, cash is starting to disappear. And beyond the cash register, it’s clear that a good chunk of the traditional consumer-banking business stands to be upended.
...more
View all episodesView all episodes
Download on the App Store

QuickTakeBy Bloomberg

  • 4
  • 4
  • 4
  • 4
  • 4

4

1 ratings


More shows like QuickTake

View all
Bloomberg Intelligence by Bloomberg

Bloomberg Intelligence

402 Listeners

Bloomberg Surveillance by Bloomberg

Bloomberg Surveillance

1,182 Listeners

Masters in Business by Bloomberg

Masters in Business

2,186 Listeners

Odd Lots by Bloomberg

Odd Lots

1,995 Listeners

Bloomberg Law by Bloomberg

Bloomberg Law

385 Listeners

Bloomberg Businessweek by Bloomberg

Bloomberg Businessweek

432 Listeners

Trumponomics by Bloomberg

Trumponomics

353 Listeners

Trillions by Bloomberg

Trillions

195 Listeners

Here's Why by Bloomberg

Here's Why

64 Listeners

Wall Street Week by Bloomberg

Wall Street Week

64 Listeners