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.
"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...