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Cell Carriers to Take On Credit Card Companies

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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.

more info at Business Week »



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Oh Wonderful T Bone Aug 2, 2010, 11:51 AM
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