The smartphone can replace more than a billion credit cards and debit cards on the US market quickly, the people who know the case are talking. AT & T, Verizon and T-Mobile plan to set up a joint venture company, developing a cell phone billing system. No doubt, this will be a serious threat to Visa and MasterCard.
People who know the case said that three mobile operators plan to distribute this system into four US cities like Atlanta, etc. Although a certain amount of time is still not released, this will be the biggest action to promote a mobile phone payment system. Richard Crone, adviser to Crone Counseling Company in California, said: "An agency is an expert to handle the payment problem, this will absolutely be revolutionary."
With the service, customers can complete the payment by using the phone to target the electronically-identified equipment. The transaction will be handled with no. 4 Payment Systems Discover Finance Service (DFS) Company, Barclays Bank in London will help manage your accounts.
For these retailers, due to pay-out differences with Visa and Master Card on the transaction fees, they may urgently send the online service to the opponent. Brian Dodge, spokesman for RILA, spoke on behalf of Walmart, Home Depot and Target, etc. "We believe all the time, the current payment market lacks real competition."
Source by Summer Green