Google PayPal Verifone US Carriers Unite to Form Mobile Payments Commission

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The mobile payment industry–particularly the NFC variety–remains at its infancy in the United States, with several companies jockeying for position to set the standard. However, without proper direction (not to mention the willingness to adopt to new technologies) the NFC payment system would remain an impractical curiosity for many consumers.

In an effort to make clear definitions for the mobile payment industry, several big-name companies in the field have banded together under one committee: the Electronic Transactions Association, which formed the Mobile Payments Committee. The group includes all four major wireless carriers in the United States (ATT, Verizon, Sprint, and T-Mobile), as well as Google, Isis, VeriFone, and PayPal. The committee also leases the help of financial institutions like Wells Fargo, Capital One, Discover, American Express, Mastercard, and Visa.

The Mobile Payments Committee sets its primary goals that includes “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 also aims to lobby its agenda with legislators and regulators, as well as educate merchants and consumers about mobile payments and its potential.

Source: Mobile Burn, via Engadget
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