Carriers, Google Form Mobile Payment Super Consortium
To Hash Out Lingering Issues With Smartphone Payment Systems
Companies from Google to Verizon have all been rushing head first toward the billions that could be made from letting you use your smartphone as a debit card, but so far the coordination between these companies has resembled the wild west. That may change slightly with the creation of a new mobile payment consortium
that will include all of the major carriers, and companies like Google and Paypal. There's still plenty of concern to be found surrounding letting companies like AT&T and Google get their hands all up in your financial data, but perhaps a super union of all parties involved will help improve the privacy and security problems critics say plague such systems
. The Mobile Payments Committee will be chaired by Jackie Moran, Verizon’s executive director of federal relations.