Verizon and AT&T team up in hopes to kill off credit and debit cards using smartphones
They don't often agree on much, but when they do it could prove a huge blow. Such is the case as they team up along with T-Mobile USA to take on Visa, MasterCard and the like in hopes of bringing mobile payments to smartphones. The new system is being tested in Atlanta and 3 other US cities and allows users to simply swipe their smartphone to make retail payments. This could be a huge move in the smartphone market, giving us one more "all-in-one" use for our devices. The project would require NFC chips in said phones and new terminals for merchants, but it would make things much easier on both ends so don't forsee much resistance.