Online currency and payment trends (Bitcoin, Paypal, etc.)

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Information about Online currency and payment trends (Bitcoin, Paypal, etc.)
Finance

Published on March 12, 2014

Author: adverb

Source: slideshare.net

Description

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.

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

MONEY, THAT’S WHAT I WANT

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/

BEGINNERS GUIDE TO MOBILE WALLETS • Amazon • I-Tunes • App-based purchases

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

SQUARE • Swipe Credit Cards via your mobile device • Can set up “employee accounts” • Free to Set-up • 2.75% Transactional charge • Instant Receipts

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)

NFC (NEAR FIELD COMMUNICATION) • Google Wallet: Beta/Limited Availability • Mastercard PayPass • Visa PayWave Benefits: Stays with you, ease of use,

GOOGLE WALLET • Libraries can set –up “nonprofit accouts” – 0% transaction fee on credit cards!!!

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!!!

BIOMETRICS • Motorola and others actively working on implementation • Fingerprint/Voice security on mobile devices Image from http://www.mobioproject.org/

LIBRARIES TAKE ONLINE PAYMENTS

CRYPTOCURRENCY

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

BITCOIN IS SIMILAR TO GOLD • Limited in Supply • Encourages bartering • Middleman for currency exchange • Price fluctuation Source: http://www.slideshare.net/few/introduction-bitcoin

VALUE OF BITCOIN Today: 1 Bitcoin= $640

BITCOIN WALLET • Stores Bitcoins • Electronic signature is added • Records each transaction to ensure no duplicates • Online stores and local spots accept Bitcoin

HOW TO GET BITCOINS • Mining • Trading other currency for • Selling products/services for

MINING • Needs enormous computing power • Fast processor takes 3 years to mine a single coin

BUYING BITCOINS

PROS OF BITCOINS • Anonymous (sort of..) • Minimal fraud • Low transaction fees

CONS OF BITCOINS • Volatile • Not backed by an institution (no FDIC) • Subject to hackers

OTHER CRYPTOCURRENCIES

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..

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

QUESTIONS?

CONTACT INFORMATION adverb@gmail.com slideshare.net/adverb facebook.com/NovareLibraryServices Novare Library Services 877-816-9638 Rachel Eichen

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