Google, PayPal, VeriFone and US carriers band together to form Mobile Payments Committee

Google, PayPal, ISIS and US carriers band together to form Mobile Payments Committee

There’s little doubt that mobile payments hold a ton of potential for the future of commerce, but without proper direction (and willingness for adoption), the technology remains little more than an impractical curiosity for the majority of consumers. In an effort to define a way forward for the mobile payment industry, a large number of heavy hitters have banded together under the umbrella of the Electronic Transactions Association to form the Mobile Payments Committee. Not only does the group include all four of the top US carriers, but also Google, Isis, VeriFone and PayPal. Add to that financial institutions such as Wells Fargo and Capital One, along with American Express, Discover, MasterCard and Visa, and you’ll quickly realize that this group is playing to win.

Primary goals of the Mobile Payments Committee include fostering relationships with merchants, ensuring consumer access to modern payment methods, exploring best practices and ensuring interoperability of networks, equipment and financial institutions. The group will also engage in lobbying activities with legislators and regulators, and will additionally work to educate both merchants and consumers about the potential of mobile payments. With so many key players (and competitors) sitting around one big table, what wouldn’t you give to be a fly on the wall during those meetings? For a little extra insight, just hop the break for the full PR.

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Google, PayPal, VeriFone and US carriers band together to form Mobile Payments Committee originally appeared on Engadget on Thu, 09 Aug 2012 22:53:00 EDT. Please see our terms for use of feeds.

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MasterCard and T-Mobile to bring NFC payments to Europe in Q3 (video)

MasterCard and TMobile to bring NFC payments to Europe in Q3 video

Poland and Germany could be the next two countries to get smartphone payments, powered by MasterCard and Deutsche Telekom. The SIM-based NFC solution will utilize the US bank’s ClickandBuy service for processing and will be available to T-Mobile customers, rolling out to Poland in Q3 of this year and Germany in 2013. This latest partnership comes on the heels of Vodafone’s pairing with Visa, which is also said to be making a push for the German market. What remains to be seen is whether or not there is in fact a demand for mobile payments — the technology has yet to take off in the US, despite an influx of funding and infrastructure from MasterCard and Google. NFC is no doubt the future of cashless transactions, but it likely remains a few years away from hitting the mainstream, with compatible devices still limited, on both the customer and retail fronts. Hit up the links below for a closer look at DT’s push to conquer the European market, one NFC-equipped SIM card at a time. Then jump past the break for a quick intro, compliments of Deutsche Telekom CEO Rene Obermann and MasterCard CEO Ajay Banga (the two seemingly random gentlemen that you may have noticed above as well).

Continue reading MasterCard and T-Mobile to bring NFC payments to Europe in Q3 (video)

MasterCard and T-Mobile to bring NFC payments to Europe in Q3 (video) originally appeared on Engadget on Mon, 02 Jul 2012 09:58:00 EDT. Please see our terms for use of feeds.

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