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ATM & Mobile Executive Summit 2013: The ATM-mobile connection
ATM Marketplace Editor Suzanne Cluckey recaps her ATM and Mobile Executive Summit presentation on mobile convergence.
October 7, 2013
On day one of the first annual ATM & Mobile Executive Summit in Washington, D.C., ATM Marketplace Editor Suzanne Cluckey gave a presentation on the histories of telephony and the ATM, leading up to the convergence of the two technologies.
Cluckey talked about the very real potential of mobile-enabled transactions and cautioned against dismissing them as a passing fad. She used the analogy of Western Union and the telephone as a cautionary tale:
Shortly after being awarded the patent for the telephone, Bell offered to sell it to the telegraph company for $10,000. The president of Western Union passed, saying that Bell's device was just a "toy."
Two years later, he confessed that if he could still get the patent, he'd pay $25 million for it. His mistake was in underestimating the average consumer's craving for experience, Cluckey said.
In an interview with Networld Media Group Executive Editor Joe Grove, Cluckey explained the process for — and advantages of — mobile prestaging, the most touted of today's ATM-mobile solutions.
Read more about mobile banking.
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