Why retailers want to take the wheel on mobile payments


When cellular carriers, banks, credit card companies, web giants and start-ups eye the opportunity in mobile payments, they imagine themselves making gobs of money by selling retailers on the merits of their technology. Turns out the retailers might have their own plans.

According to a report in the Wall Street Journal, Walmart (s wmt), Target (s tgt) and a couple dozen major retailers have decided to work on their own next-generation mobile payment system that will compete against the likes of Google Wallet (s goog), Isis, PayPal (s ebay) and many others. It could throw the nascent mobile payment market into even more chaos and make it harder for consumers to know which mobile wallet they’re supposed to carry in their pockets.

It’s unclear when the initiative would launch, how it will operate and how widely it would be deployed. But the companies involved, which include big-box retailers, fast food restaurants…

View original post 616 more words


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s