--- begin forwarded text Date: Wed, 19 Feb 1997 12:01:14 -0500 (EST) To: Multiple Recipients of e$pam <e$pam@intertrader.com> From: e$pam@intertrader.com (e$pam) Reply-To: e$@thumper.vmeng.com X-Comment: To unsubscribe, send any email to e$pam-off@intertrader.com Precedence: Bulk Subject: Mobil adopts no-physical-connection electronic payment token X-orig-from: "Travis J.I. Corcoran" <Travis-Corcoran@deshaw.com> X-e$pam-source: bounce-dcsb@ai.mit.edu Forwarded by Robert Hettinga ----------------------------------------------------------------------- Date: Wed, 19 Feb 1997 09:02:14 -0500 From: "Travis J.I. Corcoran" <Travis-Corcoran@deshaw.com> To: dcsb@ai.mit.edu Subject: Mobil adopts no-physical-connection electronic payment token Sender: bounce-dcsb@ai.mit.edu Precedence: bulk Reply-To: "Travis J.I. Corcoran" <Travis-Corcoran@deshaw.com> FYI, from today's WSJ: ------------------------------ snip! ------------------------------ Mobil Aims to Turn Gas Pumps Into Automatic-Payment Sites By PETER FRITSCH Staff Reporter of THE WALL STREET JOURNAL Mobil Corp. hopes to make life in the fast lane a little bit faster. The oil company will introduce Wednesday a miniature electronic-payment device that busy motorists can simply wave at a gasoline pump to fill 'er up. The tiny electronic tag -- called a Speedpass -- clips onto a driver's key ring. Mobil is betting the technology will catch on with drivers tired of fumbling for cash or waiting for a pump to authorize a credit-card purchase. Whether drivers are in such a hurry that they will be interested is an open question. "My key chain already looks like a janitor's," says Carol Coale, a Houston securities analyst. Mobil, which tested the Speedpass over the past six months with 10,000 consumers in St. Louis, says the added convenience can save the motorist valuable time. Mobil's technology, developed in partnership with Texas Instruments Inc. and Dresser Industries Inc., is similar to that used by drivers at bridge and highway toll booths. Once a driver waves the tag at the pump, the pump instantly contacts Mobil's credit department and charges a credit card preselected by the customer. The marketing effort challenges the conventional wisdom of gasoline retailing. Most drivers say location is more important when the gasoline gauge reads "empty" than brand name or price. Mobil's thinking is that the gee-whiz factor of owning the Speedpass, combined with the convenience, will persuade people to go an extra mile to buy from one of Mobil's 7,700 branded stations. Speedpass is also an attempt to help Mobil build on its position as the nation's top gasoline seller. With a 9.9% share of the market, Mobil in 1995 overtook Shell Oil Co. as the leading gasoline seller, as measured in gallons sold. (Figures for 1996 aren't available.) Mobil, which was among the first oil companies to use pay-at-the-pump technology, will introduce Speedpass in key markets by May 1. ------------------------------ snip! ------------------------------ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To unsubscribe from the dcsb list, send a letter to: Majordomo@ai.mit.edu In the body of the message, write: unsubscribe dcsb Or, to subscribe, write: subscribe dcsb If you have questions, write to me at Owner-DCSB@ai.mit.edu -------------------------------------------------- The e$ lists are brought to you by: Intertrader Ltd - Commerce Solutions in the UK Visit <http://www.intertrader.com/> for details ... Where people, networks and money come together: Consult Hyperion http://www.hyperion.co.uk info@hyperion.co.uk Like e$pam? Help pay for it! See <http://www.atanda.com/rah.html> Or, for e$pam sponsorship, see <http://thumper.vmeng.com/pub/rah/> Thanks to the e$ e$lves: Of Counsel: Vinnie Moscaritolo <mailto:vinnie@webstuff.apple.com> (Majordomo)^2: Rachel Willmer<mailto:rachel@intertrader.com> Commermeister: Anthony Templer <mailto:anthony@atanda.com> Interturge: Rodney Thayer <mailto:rodney@sabletech.com> HTMLurgist: Cynthia Zwerling <mailto:czrider@@webstuff.apple.com> --- end forwarded text ----------------- Robert Hettinga (rah@shipwright.com), Philodox e$, 44 Farquhar Street, Boston, MA 02131 USA "Never attribute to conspiracy what can be explained by stupidity." -- Jerry Pournelle The e$ Home Page: http://www.shipwright.com/rah/ FC97: Anguilla, anyone? http://www.ai/fc97/