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AT&T, Verizon, and T-Mobile to trial smartphone credit cards

Wireless carriers look to replace credit cards

| Mobile Devices News | Posted: Aug 2, 2010 5:06 pm

The only thing that could get three of the four major wireless carriers to work together on one goal is money. Verizon, AT&T, and T-Mobile are teaming up on a new plan that could replace MasterCard and Visa with smartphones.

 

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The system would reportedly use the Discover and Barclays processing networks and users would present the smartphone at checkout to pay. The credit card industry is huge and another way to pay will be good for consumers and retailers.

 

The system will be trialed at stores in Atlanta and other states. There is no comment on when the trial will start or what the fees for the network will be at this time.

 

NEWS SOURCE
Bloomberg.com

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