Mobile payments have experienced huge growth in recent years, more and more apps are equipped to help you make a transaction without the need to key in your credit card number. Whilst it has been easy to make virtual payments, in-store purchases via mobile devices has taken a little longer to gain traction but that might be about to change. In a partnership between US mobile carriers AT&T and Verizon, which also includes T-Mobile USA, contactless technologies are being developed to transform modern day smartphones to incorporate their own methods of payment, with the view to directly compete with credit companies such as Visa and Mastercard.
The initiative will completely disregard technolgies offered by Visa and Mastercard, instead choosing to partner with Discover Financial Services to process payments and Barclays Ltd to handle the accounts. The carriers will look to test a system in stores in Atlanta and three other US cities, where customers will have the option of paying for their purchases using their smartphone.
Read More @ thenextweb.com
