Buying with mobile devices expected to soar
Updated 8:02 p.m., Saturday, October 6, 2012
Jerry Yim from IZ IT Fresh Grill swipes a customer's card during lunch using Square, a start-up tech that created a system so that mobile food trucks can take credit cards on their smart phones and Ipads in San Francisco Calif., on October 5, 2011.Jerry Yim from IZ IT Fresh Grill swipes a customer's card during lunch using Square, a start-up tech that created a system so that mobile food trucks can take credit cards on their smart phones and Ipads in San Francisco Calif., on October 5, 2011. Photo: Audrey Whitmeyer-Weathers / SF
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$1.3 trillion
That's the expected value of goods purchased with mobile phones and tablets in 2015, four times the amount today, according to Juniper Research. As the use of mobile devices to buy everything from coffee to flat-screen TVs is expected to surge, fraud may account for 1.5 percent of all mobile payments in five years. Criminals can access mobile-payment platforms by stealing handsets or tricking owners into downloading malware. Story on page D5.
Hear here
"As soon as the economic crisis hit, bang, we started to see discretionary bonuses."
Paul Hodgson, analyst at GMI Ratings, on the practice of companies resetting performance benchmarks to ensure CEOs get at least a portion of their bonus. While S&P 500 companies pay bonuses tied to meeting specific goals, they often justify moving the goal posts as a way of shielding CEOs from bad luck - such as hurricanes, fuel costs or sovereign debt crises. Yet, CEOs are also benefiting when good luck strikes, with several studies confirming the lopsided practice.
Heads up
Chevron announces selective third-quarter results Tuesday, ahead of a full report in November, when analysts expect it to post a 24 percent quarterly decline in net income with sales down 11 percent to $54.6 billion. The company's Richmond refinery, the largest in Northern California, has been running at reduced capacity since a fire in August. Chevron, based in San Ramon, is also being fined about $17 million for an oil spill off the coast of Brazil.
Read more: http://www.sfgate.com/business/article/Buying-with-mobile-devices-expected-to-soar-3925019.php#ixzz28cOfDNjo
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