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Is it too soon for mobile wallets?

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    Kenneth Wisnefski on why you may not want to leave your pocketbook at home when you go shopping

  • Duration 4:27
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-- -- we're going out to Philly right now we have Kennedy with with nasty.

Joining us I can web onto -- founder and CEO of wed be next.

So we're talking about the idea of the mobile wallet today how many explain to everybody what it is and then and then.

We can have a little discussion.

So just yesterday we heard this major announcement fourteen retailers were talking the big guys.

Target best -- sonoco.

They -- a trillion dollars in annual sales and they say they're banding together they form this new company at their calling and -- -- And they're gonna develop technology in -- essentially that's gonna let me go to the store with just my Smartphone.

How far away is this technology and how real is what they're trying to.

Well when you -- -- ever retailers combining together.

To put this sort of technology in place one would think that the resource is that they have at their disposal in the capital that they have at their disposal.

Would -- see this becoming something that we would see in the shorter term.

I think the big question we have to ask ourselves is the security aspects of it.

Which I think are going to be one of the biggest obstacles they're gonna come up with in trying to perfect solution.

So okay so.

Dots villagers saying our -- security one of those obstacles.

I think that I think the biggest obstacle out there when you're looking at.

Kind of using the mobile payment platform.

To be more of something that's readily available where people can kind of use there -- Smartphones.

As their payment device.

I think -- -- certain level of that that concerns I think most people.

From you know people lose their phones all the time I've -- sin and whatnot have been -- we've seen this with paparazzi getting into.

Different celebrities typhoons and taking pictures and whatnot that are that resided on the side phones.

So I think that specific aspect and it is going to be a big part of that the new company that they formed.

To really be able to get to that understanding where they can make this type of platform that -- really work well for -- for people like him that are out they're gonna gonna spend in their stores.

You really think that people are gonna stop but -- -- they're Smart that -- how big is this market really what are the projections.

I think that when you look at this type of marketing where can really get -- two.

I think community old jokes around you know that the -- -- deficit with George could stand that is huge wallet.

I think people really prefer not to kind of carry.

Additional fines and credit cards and one none really would prefer to use their Smartphones.

I think the biggest scenario that that comes up it's just that.

That willingness to -- to trust that that's going to be something that's gonna be safe and I think that ultimately it's something that when they get to this market.

There -- you know it's gonna just basically change the way.

In person retail really takes place.

Yeah and India -- -- need for a lot of people hey can you tell us what he max's.

Whether Max is a company that focuses specifically on online marketing in a big piece of that is really.

E-commerce and a large part of what we do really focuses more and more around mobile commerce and companies that are trying to get.

Better visibility you know -- people are using their Smartphones and and different things seven.

Everyone's turning towards their food and as more than just the phone it's a huge resource for people.

And a lot of what we do is really helping people leverage that to make sure their businesses and companies are visible one -- people might be looking for them.

Eventually be good for advertisers right -- -- -- of Facebook's huge problems is getting.

That money on their mobile applications because everybody's logging on.

You know with our phones these days so maybe that -- bring some more in marketing money into the space.

Absolutely I think FaceBook is one of the ones that you know has really come to the forefront.

Wit the -- issue that kind of comes in the place from -- advertisers' perspective.

Being able to leverage.

The dollars that they see from a mobile perspective is really something that they're striving for.

Up to this point I think advertisers have shied away a little bit.

From the mobile because it hasn't been perfected it's something that's a bit more easily ignored.

But clearly this is where be starting to go to and I think it's something that -- people -- paying a lot more attention to -- clearly.

Advertisers and marketers are looking out of a lot more as well.

And it was nasty thank you so much for coming --

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