Give examples of trends in technology, excluding bitcoins, that will need infratructure investment in the future, but will enhance people's lives.

Case # 4 CHAPTER 5: PRODUCTION THEORY STRATEGY SESSION: Innovations in Payments for Goods and Services Is the cash register a thing of the past? Already technology giants like Google (who bills virtually no "cashiers" don't key in item prices-UPC codes are onel. The NFC market is estimated to account for up scanned. Cashiers may take money and make change, to a third of the global market in mobile transactions but many payments are made by credit and debit cards. by 2014 (a $1.3 trillion market]. Not only cash regis- Some stores such as Home Depot, are already offer- ters but credit cards may be replaced. ing self-checkout lines. What's next? How about a The arrival of Google's Android and Samsung's big arch near the exit that you walk your cart through Nexus S, as well as speculation that Apple (which that scans all your items purchased and puts the knows how to bill] may enter the NFC market, make total on your credit card or reduces your bank bal- the future in this area very interesting. ance by the amount of your purchases? It's like an E-Z Infrastructure investment will be significant. Pass for groceries or purchases from other retailers. Gazillions of point of sales terminals must be put in But how about paying by just swiping your place and then all phones will have to be NFC com- smartphone? Deutsche Telekom, France Telecom, patible. The most likely way all this will come about Google, Visa, and other companies are scrambling is through some partnership between the telecom to get into what are called near-field communication experts and the financial services industry. INFCI payment systems that will enable consumers to shop at the corner store and pay with a swipe of Source: Matthew Campbell and Jonathan Browning, "Mega' the phone. The telecoms are hoping that their exist- Payments Race Pits Google, Visa Against Phone Operators," ing payments system and billing arrangements with Bloomberg News, February 21, 2011, at www.bloomberg.com/ news/2011-02-20/-mega-payments-race-pits-google-visa- customers will be a first-mover advantage against against-phone-operators.html. Give examples of trends in technology excluding bitcoins ; that will need infrastructure Investment in the future, but will enhance people's lives