He was previously co-founder and CEO of Accept.com, a consumer-to-consumer payment services company acquired by Amazon in 1999, and Good Technology, a provider of secure mobility solutions, which Motorola bought in 2007.
Likewise, this legislation instituted a more consumer-friendly payment structure for personal credit cards while providing no such provisions for business credit cards.
"Because it's contact-less there's a perception people can grab it from thin air, but it's actually a more sophisticated technology than credit cards with a magnetic stripe, making it more difficult to steal a consumer's payment information, " said Nick Holland, a mobile-transactions analyst at Yankee Group.