AT&T, Verizon, and T-Mobile Team Up to Push Mobile Phone Payments
AT&T, Verizon, and T-Mobile Team Up to Push Mobile Phone Payments
Posted 11/16/2010 at 4:04pm
| by Ryan Whitwam
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AT&T, Verizon and T-Mobile have announced a joint venture centered around turning your mobile phone into a method of payment, Engadget is reporting. Using so-called Near Field Communication (NFC) technology, the hope is that one day, you will only have to tap your phone on a point of sale kiosk to pay for items. The technology will be deployed with the help of a NFC tech firm called Isis.
The press release claims the system will be available in locations nation-wide in about 18 months. That may seem like quite a wait, but there are currently no widely distributed phones in the US that have the necessary NFC chips built in. There are security concerns to be sure, so we'll all have to keep an eye on this technology as it rolls out.
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helenth
December 15, 2010 at 9:02pm
The initiative taken for the concern is very serious and need an attention of every one. This is the concern which exists in the society and needs to be eliminated from the society as soon as possible. I subscribe to Insider Score, and that is correct there has been scant insider buying. Insider Score's market wide buying indicator tracks very closely my sentiment indicators.
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tux_kamen
November 17, 2010 at 3:23am
They have a system like this in Japan where, instead of having the phone linked to a personal account, the money was loaded from cash or card to the RFID in the phone.
Peanut Fox
November 16, 2010 at 10:52pm
All the more reason to hack and modify a phone. It's like free money.
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