Published on March 12, 2014
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
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
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
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
CONTACT INFORMATION email@example.com slideshare.net/adverb facebook.com/NovareLibraryServices Novare Library Services 877-816-9638 Rachel Eichen
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