By Randy Smith,
Mobile Wallet Media
December 31, 2013
About Mobile Wallet Media
Mobile Wallet Media is a news media, analyst, marketing and consulting firm focused on the future of mobile: payments, marketing, loyalty commerce, security, prepaid, virtual currency, daily deals and the convergence of them all with social and local. The Chief Editor, Randy Smith, was the primary founder, inventor and former CEO of MobilePayUSA, a TechCrunch Disrupt Startup Alley Winner.
Media Partners
2012 - SuperCommerce Series
Search, Social or SuperCommerce?
The key to commerce shall be the seamless completion of the value and convenience chain for consumers and merchants alike.
How may Google, Facebook and First Data disrupt Daily Deals? Will EVOLUTION lead
to REVOLUTION? How about M&A?
Daily Deals Manifest Destiny
Can one live on deals alone?
Tour D' Mobile Payments
Mobile Wallet & Main Street
PayPal, Google Wallet, ISIS, Square & more. What are the barriers to adoption and how they may be overcome?
The Future of Money
See the 2020 Vision!
Where will payments be in 2020? Will mobile over take cards & cash? Learn how a 'Secure, Social & Rewarding' wallet will disrupt it all?
Bridging the POS GAP
Disruption is Overdue!
NFC is Tortoise and the 2D Bar Code is the
hare. Retailers, simplify the myriad of choices!
Learn how DISRUPTION is RIPE for 2013!
Greed is NOT GOOD!
Cause Commerce IS!
Cause Commerce can set you apart! Learn what it is, why it will soon be, non-optional, and how it will add to your Social Brand.
Loyalty LIKE Never Before!
SuperCommerce is Seamless!
The convergence of Social & Rewards is here!
Learn how Top of Mind & Automation will rule! Maximize, Mobilize & Unify Ads & ROI!
Companies and leaders, to remain relevant and profitable, must embrace innovation or risk becoming irrelevant or extinct.
Top 5 Killers of Innovation!
What stands in your way?
HDTV - High Def. Total Vision Where are your Blind Spots?
Connect the dots! See the big picture!
If your Mobile Strategy is unclear, you may be
missing key pieces. Get a holistic perspective.
2013 Series
The 'Disruptive Innovation Meteor' named MOBILE has struck the world's of retail payments, banking and marketing. Firms wanting to survive, compete and win in this new environment must adapt by embracing disruptive innovation or risk becoming irrelevant or extinct. Read story

Disruptive Innovation and Dysfunctional Dinosaurs
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Copyright 2012. All rights reserved, Mobile Wallet Media, Inc.      News & Opinion on the Future of Mobile Payments & Commerce!
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Discussing the Future
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Is it all just about having the loudest megaphone? This megaphone being media coverage, a budget for advertising or for growth capital or political swaying contributions. Can big and bold innovation succeed if not introduced by a power brand or resume and big money? And are the incumbents really willing to disrupt their status quo solely in serving the best interest of their customers or citizens? Consumers and citizens lose out because of this prejudice against innovation originated from outside incumbent leaders. If you've read my articles before, you know I'm not out to win a popularity contest (except on behalf of innovation and I already won such a contest at TechCrunch Disrupt in 2010), I'm here to highlight innovation and reveal the barriers against it.

If you think what I'm speaking of has no ground, then stop reading now, but the simple fact is the Target breach and most all card fraud need not exist. The reality is solutions are available to end most card fraud, but the industry, the media and government act as though there are no solutions, other than theirs to end card fraud, which do no such thing. Why do they ignore solutions? Maybe it means they would have to give up control, take on more responsibility for fraud (vs. merchants)? Or perhaps they fear becoming obsolete, irrelevant or losing revenues, investments or contributions?

For those supposed to be protecting our data and transactions or serving us as customers or citizens, they sure have a funny way of showing it. They stick their heads in the sand and pretend they hear nor see anything. This is due to resume or brand prejudice, which is when an idea is bigger than the resume submitting it. This type of thinking influences nearly all decision making in regards to entertaining new big and bold ideas. This theorem is inadvertently (?) backed by the media as they will never even consider publishing a story about a new big and bold innovation without a 'Big' brand, name or money backing it.

You want proof? You will have to swallow your pride by being objective and humble enough to support what you learn without any prejudice. By the way, this is also the path to discovering disruptive innovation. One must first start with the customer and serve them with the best solutions possible, not allowing room for compromise other than restrictions by time or money (if the idea solves a big enough problem, then lack of funding should not be the issue). The best solutions must be embraced lest comprise kicks in, thus watering down or corrupting the firm foundation of the best solution for a problem.

The Target breach or any card breach would be of no real concern if consumers were enabled to turn their cards or accounts on and off like a light switch via mobile or web (MonOff - Turning your Money ON and OFF). This solution and those to prevent ID theft and tax refund fraud are presented at There are several methods of using multi-factor authentication to end card fraud that have yet to gain great traction: 1) mobile-authenticated devices, 2) Mobile-authenticated location through PayPal's use of BLE or GPS, and 3) PINs, biometric or key chain authentication (Tyfone or perhaps soon from Loop), 4) Out of band purchase confirmation like from SafePay, 5) How about never needing to share card data, not even tokenized card data ever with any merchant to conduct a card transaction (actual credentials securely stored in the cloud). 6) . . .

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Edited January 10, 2014.