Thursday, July 12, 2012

KCNext Explores the Future of Mobile Payments

Have you ever wanted to Tweet someone $5, just because? Or pay with your mobile phone without fear of identity theft? Well, now you can! KCnext’s Go: The Future of Mobile Payments was held on Monday and these exciting new payment methods were introduced to the Kansas City startup crowd. Chris Teso (Founder & CEO of Chirpify), Barb Pacheco (Senior VP of Federal Reserve Bank of KC) and Ben Milne (Founder & CEO of Dwolla) presented Monday afternoon and brought insight to the future (and even present) of mobile payments.

Chirpify is a new payment option on Twitter. Chirpify is another project from the maker of Tweet-A-Beer. Here’s how it works: A person sees a new track from their favorite artist on their Twitter page. He or she really wants to buy it! Instead of going to iTunes and searching for the track and then paying with their credit card, they can just Tweet “buy” on the artist’s post. And voila, the track is theirs! Seems too good to be true, right? Well check it out! It really is that simple!

Barb Pacheco from the Federal Reserve Bank of Kansas City shared information on how the current payment system works. The current payment system is fragmented and it takes a long time for payments to go through the whole system. Right now, checks are the most efficient way to pay individuals. So, what’s next?

Enter Dwolla. This is a new payment network that aims to fix all the problems with fraud and inefficiencies that hinder the current network of payments. It quickly transfers money from your bank to the payee’s bank. You can do transactions from your phone, computer, iPad; really anything with an internet connection. Sounds simple, right? It is! I guess Ashton Kutcher agrees, because he’s already invested in this startup!

Next time you want to scroll through a bunch of artists on iTunes and then go through the hassle of entering your credit card, remember Chirpify! And whenever you find yourself wanting to buy something online but you’re scared of identity theft, try Dwolla! These new payment methods are simple, so give ‘em a try and discover the future of mobile payments.

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