From MSNBC.com Shop 'til you drop..your camera phone
New technology that turns your cell phone into a price scanner could help consumers find bargains, reports Phil Lempert
Just when you thought you’d figured out how to take pictures and read e-mails on your phone, those technology wizards are at it again. This time they want to turn your phone into a shopping tool.
I still don't see price comparison being a tool people will use on their cellphone.
Using software it calls Optical Intelligence, a company called Scanbuy says it can transform any camera phone into a personal barcode scanner which then allows shoppers to scan a product they are interested in, and then through the phone’s Internet connection, gain access to a complete list of the same product’s availability and prices at other retailers.
The software would also allow these companies to play a radio or television ad for that product. That's a much better offering in my opinion.
Mobile commerce (or “mCommerce”) has been exploding over the last few years. So far, three methods of this payment feature exist and are currently being added to mobile devices:
Stored-value account: Uses a stored-value feature that resides on an embedded computer chip, similar to a smart card, inside the mobile device. Funds would be transferred to the chip and the transaction processing is limited to the point of sale and the cell phone.
Pre-authorized payment: Consumers call a preauthorization number to enroll their cell phone with the payment service. Using their cell phone number with a PIN, the transaction takes place at the retailer similar to debit and credit card transactions
Text-messaging software: Using the text-messaging software of the device, encrypted payment transactions are sent over the mobile phone network.
I see why, good informative blogs are beginning to replace traditional media. Granted he's a food critic, but the author did no investigative work on this technology or company.