The payments space is moving further and further away from cold hard cash. Major companies like MasterCard (MA) have apps that allow users to pay for things by taking a selfie. 'Your phone has not only your payment credentials securely stored, but it also has a camera built in,' said Jason Oxman, CEO of the Electronic Transactions Association, based in Washington. 'Rather than authenticating yourself using something that's 50 or 60 years old like a PIN, you can take a picture of yourself.' As technology evolves, consumers have become increasingly concerned about the security of mobile payment transactions. 'As we move away from the plastic card with the magnetic stripe, which is a 40 year old technology - the same technology used in cassette tapes - we're moving towards mobile payments,' he said. TheStreet's Scott Gamm has details from Wall Street.
More from Video
Amid the Selling, Here's the Big Question Now
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.