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The US lags behind much of the world in its adoption of secure retail payment systems and mobile payments.
With the purchase, VeriSign plans to offer phone companies services like secure text messaging and retail payment services on mobile phones.
Not only would such savings make our retail payment system more fair, but it would represent a significant economic stimulus at a time when consumers are just starting to spend again.
The partnership is the latest alliance among technology and financial corporations intended to stake out a spot in new forms of retail payment, like the smartphone-based "digital wallets" proposed by Google.
They discovered that migration to an effective electronic retail payment would stimulate the overall economic growth, consumption, and trade.
As such, this gives rise to a sudden increase in implementations of interbank real-time retail payment systems over the last decade.
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That compares with an expected value of about $5bn for smartphone-based retail payments in the US this year.
Crossborder consolidation among banks has accelerated; the share of equities held in other euro area countries has doubled to 40%; and the single euro payments area (SEPA) is set to eliminate differences between national and crossborder retail payments.
Mr. Breyer is an investor in Circle Internet Financial, one of the host of start-ups trying to find a way to make bitcoin a widely adopted currency for retail payments.
In response to the Starbucks deal, Aaron Levie, the chief executive of the online file storage firm Box, wrote on Twitter that "Square just dropped a bomb on the retail payments industry, in one of those Godfather-dead-horse-in-your-bed Godfather-dead-horse-in-your-bed Godfather-dead-horse-in-your-bed Godfather-dead-horse-in-your-bed Godfather-dead-horse-in-your-bed Godfather-dead-horse-in-your-bed
There is an enormous amount of innovation going on in other areas, such as retail payments, that has the potential to change the way people carry and spend money.
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CEO of Professional Science Editing for Scientists @ prosciediting.com