Business Weekly Journal: Smart Cell Phone Will Replace Bank Card Rapidly
. No doubt, this will be a serious threaten to Visa and Master Card.
People familiar with the matter said, the three mobile operating agencies plan to deploy this system in four US cities such as Atlanta etc. Although the definite time is still not release, this will be the biggest action for promoting cell phone payment system. Richard Crone, the consultant of Crone Counseling Company in California, said," Operating agency is the expert for handling the problem of payment, this will absolutely be an groundbreaking action ."
With the service, customers can finish the payment just by using the cell phone to aim at the electronic indentifying equipment. Transaction will be handled by No. 4 payment net Discover Finance Service (DFS) Company, the Barclays Bank in London will help to manage the accounts.
To those retailers, because exit difference with Visa and Master Card on transaction fees, they maybe more urgent to deploy opponent's net service. Brian Dodge, the spokesman of RILA, speaking on behalf of Walmart, Home Depot and Target etc. "we think all the time, current payment market short of real competition. The emergence of safe and reliable competitive net will satisfy the requirement of cell phone payment system by customers ( China cell phone ), and decrease the cost of retailers; the emergence of the system is good news."
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