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Australian Banks Indirectly Help Bitcoin By Boycotting Apple Pay

Source: bitcoin

Bitcoinist_Mobile Payment

The mobile payment sector is heating up, as every company and financial institution are scrambling to launch their platform in the near future. Over in Australia, it will not be smooth sailing for Apple Pay by any means, as the country’s major banks continue to boycott the popular mobile payment solution. NAB was among the first to launch their own mobile app, and now ANZ Mobile Pay is here as well. Bitcoin, on the other hand, is creating a far less fractured payment ecosystem around the world.

Also read: Diamond Market Meets Bitcoin Through Bitcoin.de

Apple Pay Battle in Australia Becomes A Lot Harder

Even when consumers might be preferring to use Apple Pay for their mobile purchases, they will be unable to do so unless their bank participates in the project. In Australia, the likelihood of being able to pay with Apple Pay is becoming is becoming much smaller on a monthly basis, as the country’s major banks keep boycotting this solution.

Similar to the struggles Apple is facing in Canada; bank participating remains a key issue in Australia. There is a lot of friction between all parties, only because the technology giant is looking to take a slice of interchange revenues in these countries. Needless to say, in this day and age of financial turmoil, banks are even less keen on sharing their revenue with other players.

Now that ANZ, one of Australia’s four major banks, has released their mobile payment application for Android users, things are looking even more bleak for Apple Pay. Making payments through ANZ Mobile Pay requires the user to tap their card against the phone, enter the date of birth and mobile number, and then choose their preferred payment option.

This process will have to be repeated for every individual card ANZ customers want to link to the mobile solution. However, with the wide variety of credit and debit cards that are supported, some customization is possible. Furthermore, ANZ Mobile Pay users can withdraw money using their phone at several ATMs supporting contactless withdrawals.

Although it is a positive sign to see major banks focusing some of their attention on the mobile ecosystem, this plethora of different apps is creating a fractured world of payment solutions. In the end, the consumer will not benefit from all of these solutions, as they prefer a streamlined system without too much hassle.

Bitcoin is Streamlined And Globally Available

Unlike these mobile payment solutions requiring bank participation, the Bitcoin ecosystem is very much streamlined. In fact, it would be difficult not to streamline it, as there is no unnecessary mingling by third parties, banks, or governments. This is one of Bitcoin’s major strengths, as it carries on unencumbered by these woes.

Getting one’s hands on Bitcoin has become easier over time as well. Most countries have one or more Bitcoin exchange, there are Bitcoin ATMs, and even peer-to-peer trades are a possibility. Plus, with the limited amount of coins in circulation, there is a chance for a value increase down the line.

What are your thoughts on banks releasing their own mobile payment solution? Let us know in the comments below!

Source: ANZ

Images courtesy of Shutterstock, ANZ

The post Australian Banks Indirectly Help Bitcoin By Boycotting Apple Pay appeared first on Bitcoinist.net.

Australian Banks Indirectly Help Bitcoin By Boycotting Apple Pay

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Led 22

Bitcoin Crowdfunding Can Learn From Kickstarter Android App

Source: bitcoin

Bitcoinist_Mobile Crowdfunding

Kickstarter has been the center of attention for quite some time now in the crowdfunding world, despite some obvious flaws with the way business is handled at certain times. At the same time, there are far too many users who see this platform as a cheap shopping mall for the latest gadgets, which is far from the case. Now that Kickstarter released its Android app, consumers will have additional options to back innovative projects. Bitcoin-based crowdfunding platforms could use such an app too in the future.

Also read: A Q&A With Kalpesh Patel: Bringing Bitcoin to the Hotel Industry With BookWithBit

Supporting Kickstarter Campaigns With an Android Phone

Financially contributing to your favorite crowdfunding campaign requires users to log onto a computer, and fill in their credit card information when making a contribution. The new Kickstarter Android application looks to streamline that process, as the main goal of this release is to make crowdfunding that more convenient than it has ever been before.

By giving users the options to pledge funds to any crowdfunding campaign from the comfort of their mobile device, things will get a lot more interesting for Kickstarter. At the same time, one could argue the point this will also hurt consumers wallets all the more, as impulse purchases take place through mobile devices more often compared to other payment solutions.

As one would come to expect from such an Android app, the main focus lies on discovering new projects, as well as showcasing Kickstarter’s activity feed. By using this feed, users will see updates from their favorite campaigns, as well as which projects any of their friends have shown an interest in. Now that Kickstarter users can browse the platform on both iOS and Android, things are looking quite good for crowdfunding in general.

However, some educational efforts regarding Kickstarter campaigns are still needed. Consumers need to be aware of the fact that pledging financial aid to a project is not without its share of risks. Not every campaign is successful in delivering the advertised product or service, and getting funds back can be quite the hassle. Not all campaigns are spelling doom and gloom, though, as most of them turn out just fine.

Bitcoin Crowdfunding Needs A Mobile App

The concept of crowdfunding has crossed over the world of Bitcoin and digital currencies, although efforts have not been as successful as Kickstarter for example. Equity crowdfunding platforms seem to do fairly well so far, primarily because they let any qualified investors back a company in exchange for a share of their equity.

Converting this experience to the mobile ecosystem might help put Bitcoin crowdfunding on the global map in the years to come. Not just the equity crowdfunding part itself, but also making regular contributions to art projects, video game developers, and the likes.

What are your thoughts on Bitcoin crowdfunding in general? Should there be more options that just equity crowdfunding? Let us know in the comments below!

Source: Engadget

Images credit of Kickstarter, Shutterstock

The post Bitcoin Crowdfunding Can Learn From Kickstarter Android App appeared first on Bitcoinist.net.

Bitcoin Crowdfunding Can Learn From Kickstarter Android App

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