Just swipe and pay

Just swipe and pay

Jumio… ever heard of them?
Probably not, if you didn’t read this TechCrunch article. However, Jumio, like many other tech startups out there, wants to revolutionize mobile payments… except for the small fact that one of their key players helped invent the internet, while a few others built Google’s core and Ebay’s Bill Me Later service.

This is timely as Apple is

“applying near field communications [NFCs] to its upcoming iPhone 5 and iPad 2, a development that would allow users to make payments by putting their mobile devices near digital sensors that electronically suck dollars out of personal bank accounts.”

…while Google has already been on this. Google has NFC hardware on their new Nexus S, already available.

So, basically, if Jumio can make the hardware which uses a patented protocol for tranferring payments data, and can ship this hardware affordablly to every store location in the world… Visa’s stock plummets, and Jumio IPOs.

A big if, because Jumio has to

make the hardware which uses a patented protocol for tranferring payments data, and ship this hardware affordablly to every store location in the world

first. But, maybe Jumio’s endgame is to sell to a Visa. Visa, in that case, should buy.

Anything could happen these days.

What do you think?

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