From Wired.com
This is an interesting development in the payment space. This story ran in Wired.com in August of 2013. Fast forward a couple of weeks ago, Apple, Inc launched apple pay for payment. The financial landscape is changing but I am of the opinion that the Banks that want to survive have to adapt. No doubt this will increase velocity of money where allowed but the digitization of money is just moved up a few rungs on the ladder.
Read more here
http://www.wired.com/2013/08/why-do-we-need-banks/
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