Cell Carriers to Take On Credit Card Companies
Aug 2, 2010, 5:20 AM by Philip Berne
In a joint venture, Verizon Wireless, AT&T and T-Mobile may work with Discover Financial Services and Barclays to create a mobile payment system that would compete with the credit cards issued by Visa and Mastercard banks, according to a report by Bloomberg. The new system would use contactless technology to let customers pay by waving their phones at a receptor device at the point of sales. Bloomberg sources claim that the joint venture is currently searching for a CEO. Trials will begin in Atlanta and a few other cities around the country.
Google Launching Android Pay Today
Google said it is making Android Pay, its reborn mobile payment service, available to Android handsets beginning today. The app will be pushed to small batches of users over the next week, according to Google.
Samsung Pay Launches In the US
Samsung today made its mobile payment service, Samsung Pay, available to U.S. consumers.
Several Banks Add Android Pay to Their Own Apps
Google has partnered with a small number of financial institutions in order to ease the process of signing up for Android Pay. Several banks, including Bank of America, Bank of New Zealand, Discover, mBank, and USAA, now let customers add debit/credit cards directly to Android Pay from within the mobile banking app.
Samsung Pay Wins Support from More Banks
Samsung today said Samsung Pay will soon be supported by more financial institutions. This means a broader range of consumers will be able to add their credit or debit cards to Samsung Pay.
Mastercard Adds Retail Mobile Payments to Bank Apps
Android owners will soon be able to use their own mobile banking app — rather than Android Pay or Samsung Pay — to make tap-and-go payments in stores. Mastercard has expanded its Masterpass program to mobile devices so consumers can make contactless payments at various retailers.
"What's an overdraft fee?"
"How come they bill the tip the next day?"
"I haven't paid my credit card bill in months so AT&T s...