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US consumers alone purchased $38.8 billion worth of goods using their mobile devices in 2013, a number which is only expected to rise. While consumers are eager to make payments with their mobile devices few of these purchases were processed through traditional payment terminals due to the lack of compatible infrastructure.
This lack of support is not because companies are uninterested. With profits growing every year everyone wants to get in on the huge potential of this market. It has recently come to light in mainstream media that the US National Security Agency (NSA) has been tracking emails, instant messages, other forms of internet communication, and most controversially, keeping track of American’s phone calls. The funny thing is that this news has come as a surprise to many people who thought that communication over the internet is safe. This is a stark contrast to what you would get if you talked to any tech savvy person (especially conspiracy theorists) in the past 10 or 15 years who could have easily told you this was going on.