I'm fairly confident it would take just one usability study to prove to your company that placeholder text on form elements are not a suitable replacement for labels, no matter how pretty it may look.
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This one was on http://humblebundle.com . The core problem is there is no standardization whatsoever on which order credit card form fields appear or the format they accept. So, I very quickly forget which field I'm entering when the placeholder text deletes and have to backtrack.
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Thank you for passing that along and for your feedback!
End of conversation
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