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New Mobile Payment System Coming From Retailers

Mar 1, 2012, 7:40 PM by Rich Brome

A new mobile phone payment system - to compete with Google Wallet and ISIS - is being built by a group of retailers that inclues Target and Wal-Mart. The group also includes drugstores, vending companies and fast-food restaurants. It's not clear if the system would use NFC, and if so, whether carriers and/or Google would permit the system to run on their NFC phones. The secure chips on most NFC phones can support multiple payment systems, but only if the primary issuing company permits it.

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