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Cell Carriers to Take On Credit Card Companies

Article Comments  9  

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.

Business Week »



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T Bone

Aug 2, 2010, 11:51 AM

Oh Wonderful

Oh wonderful, one more thing you have to worry about if your phone is lost or stolen.....now the person who stole your phone could be ringing up thousands in credit card charges too....as if international calling and mobile downloads weren't already a big enough concern.
You just sound like your living in fear, have a social security protection with both my bank and a outside resource and have the lock features and date lock and clear from a remote location for my phone. What is there to worry about if your protected?...
Seriously, don't get your panties in a bunch. This will go nowhere. Why would these guys be dumb enough to get in bed with Discover? Talk about beer goggles! Yuck!
As a customer service/sales rep, this would double my daily work load.

"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...
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