It's The Great Pumpkin, Charlie Brown!
- It's The Great Pumpkin, Charlie Brown! | Truth or Myth?
- Mobile payments are here to stay | Why are many retailers going astray?
Most of us were fortunate enough to enjoy Charles Shultz’s beloved Halloween cartoon wherein the young and naive Linus tries to convince the rest of the Peanuts gang that The Great Pumpkin is real. Turns out, it’s not (I checked). Some things we grow out of like Santa Claus, The Easter Bunny and of course, The Great Pumpkin. But sadly, many of us are still in need of a “Linus-ectomy” to remove those myths about things like personal finance, health, real estate and a myriad of other topics.
One of the problems is that we’re not in school anymore. We can’t use the old “the dog ate my homework” excuse to get out of doing our due diligence. Even though there are resources that, just like in high school, will do it for us (without being bullied or bribed), it’s ultimately each individual’s responsibility to confirm or deny with intellect what is presented to them as fact.
Take Snopes.com for instance, a web site dedicated to the destruction of urban myths, where Barbara Mikkelson, co-founder and researcher spends a lot of time debunking financial tall tales that she encounters. For instance, have you heard that the payment of Federal Income Taxes is voluntary? Snopes.com tells it like it is.
Here are 10 other things you may have heard.
Do you know Truth from Myth?
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Mobile payments are here to stay...
It's difficult to dispute that mobile payments is among the most debated topics in the payments industry.
So, I walked into Starbucks recently, staked out my comfy seat next to an outlet, set up my laptop to begin writing this article, then mosied to the counter. Interestingly, while I was standing in line to order my venti non-sweetened iced green tea, the gentleman in front of me ordered his venti black iced tea with one pump of carmel and proceeded to pay...with his iPad. Me, I paid with my Gold Starbucks card. (You know you're a junkie when you've reached Gold status.)
I wondered. What makes one person pay with their mobile device and another with a more traditional payment type?
I postulate that some people are a bit intimidated by technology or maybe they're just creatures of habit. Maybe they don't have the income to auto-load a starbucks card. Or, maybe they just don't care one way or the other. The difference between Baby Boomers vs. Gen X & Y would seem to have some impact on this trend. I for one don't use the app because my 3G iPhone is slower than molasses and I can more swiftly flash my card at the barista. (I wouldn't want to cause the line of junkies behind me to imagine my neck between their hands for delaying their caffeinated bliss.)
Nevertheless, I was curious about those that pay using mobile devices and the merchants that accept them. So I asked the fella in front of me, then I asked the store manager about her experience with mobile payments, bearing in mind that Starbucks was the first company to create an iPhone app
Me: "Why do you pay with your iPad vs. money, credit or Starbucks card?"
Him: "Well, I usually pay with my phone but forgot it today. That being said, I used to use the card but downloaded the Starbucks app and prefer it because it's fast, easy and I get instant rewards and extra in-store perks, like refills at no charge. Plus, there's less risk of losing my wallet or getting it stolen."
Me: "Do you use other mobile apps, such as Google’s mobile wallet or PayPal to pay for goods or services other than Starbucks?"
Him: "I probably would if I got rewards & perks."
Me: "Hmmm. Interesting."
[Pause for beverage refill...ahem, for a small fee]
Read on for the Managers input and considerations for the business minded >>
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