Amazon VP: 'Anyone working on NFC is focusing on last century's problem'

http://wp.me/p55gzU-a5v

Patrick Gauthier has been on the job for only five months, but Amazon's vice president of payments already has a lot to say.

Ask him about NFC, the technology used by Apple Pay and Google Wallet to pay by smartphone, and Gauthier launches into a half-hour discussion of how most of the competition is getting payments all wrong.

See also: Your mortgage dissected: Interest vs. principal, and how to own your home faster

"I think the industry in general has lost sight of what it is we're here to do," Gauthier told Mashable Friday afternoon.

When credit cards initially became popular, they were a huge step forward for consumers, who previously relied on cash and check. NFC, Gauthier argued, doesn’t offer the same leap in innovation that the credit card did. After all, is paying with your phone exponentially easier than whipping out a credit card? Read more...

More about Amazon, Payments, Mobile Payments, Nfc, and Business
more: http://wp.me/p55gzU-a5v. #Amazon, #Business, #MobilePayments, #NFC, #Payments