22 October 2017
visit www.avoka.com

US retailers developing own m-payments system - WSJ

02 March 2012  |  10099 views  |  0 Fingers on smartphone keypad

A group of American retailers, including Wal-Mart and Target, is developing its own mobile payments system, joining an already crowded field of banks, card companies, technology vendors and telcos, according to the Wall Street Journal.

Around two dozen merchants are involved in the project says the WSJ, citing people familiar with the plans. However, the details are sketchy, with the identity of most participants, how the system will work, when it will launch and its name all unknown.

The retailers have decided to enter a packed field after surveying the current competition and deciding they can do better, with security and privacy a major concern, Steve Mott from BetterBuyDesign, told the Journal.

In a statement, Target says: "We are exploring potential solutions that would help us to deliver the fastest, most secure mobile-payment experience possible for our customers."

The retailers are taking on a slew of major players, including Google, which has Citi, MasterCard and Sprint on board for its NFC-based Wallet. Another contactless system in the works is Isis, a consortium led by telcos AT&T, T-Mobile and Verizon, which recently signed up Barclays, Capital One and JPMorgan Chase.

Taking a different approach, PayPal has eschewed the use of NFC technology at the till, developing a mobile number and PIN-based system which Home Depot has just agreed to roll out nationwide.

Retailers Join Payment Chase - WSJ

KeywordsEFTPOS

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Home Depot to roll out PayPal in-store payments nationally

Home Depot to roll out PayPal in-store payments nationally

29 February 2012  |  9372 views  |  0 comments
Isis signs Chase, Capital One and Barclaycard to mobile wallet

Isis signs Chase, Capital One and Barclaycard to mobile wallet

27 February 2012  |  17473 views  |  0 comments
Google disables pre-paid card provisioning following Wallet security scares

Google disables pre-paid card provisioning following Wallet security scares

13 February 2012  |  10376 views  |  0 comments
Google Wallet coming to UK ahead of Olympics - report

Google Wallet coming to UK ahead of Olympics - report

12 December 2011  |  13553 views  |  0 comments | 1 tweets
Verizon refusing to support Google Wallet - report

Verizon refusing to support Google Wallet - report

06 December 2011  |  8836 views  |  2 comments
Citi rounds on Isis, urges other banks to join Google Wallet

Citi rounds on Isis, urges other banks to join Google Wallet

12 October 2011  |  18794 views  |  5 comments
Google launches mobile wallet

Google launches mobile wallet

19 September 2011  |  17519 views  |  1 comments

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.innotribe.comRegister now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
14169 views comments | 17 tweets | 28 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
12865 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9726 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9531 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8734 views comments | 9 tweets | 18 linkedin

Featured job

Find your next job