AT&T, Sprint, T-Mobile, Verizon Join Industry Mobile Payments Group

Mobile PaymentsThe Electronic Transactions Association says that all four of the U.S. telecommunications carriers will join the group’s Mobile Payments Committee.

Other members include Google, Isis,  PayPal, VeriFone and Intuit. Jackie Moran, Verizon’s executive director of federal relations, was named chairman.

I’ll dare to compare this move with what happened just before the launch of Android, when a consortium of companies including Google, Intel, HTC, Motorola, Samsung, Nvidia, Qualcomm, T-Mobile and Sony Ericsson announced the Open Handset Alliance.

Why The Future is Bright

In this case, the companies involved are already at work on their own approaches to mobile payments: Google’s has Google Wallet, and last year PayPal demonstrated how it thinks a mobile payment system should work. And let’s not forget about PayPal Here, which transforms a mobile phone into a POS. That allows merchants to accept credit card payments on their smartphones iPhones and Androids.

With all of the parties involved, the MPC is sure to have an impact on how consumers approach paying for things on the go. The trick is to come up with a reliable, fast and safety mobile payment solution that can satisfy the needs of every potential customer.

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