Up to now, the mobile payments industry has been relatively unregulated, with various entities pursuing their own strategies along their own set of rules.
However, that’s all about to change. The trade group Electronic Transactions Association announced this week that it is forming the Mobile Payments Committee, which will be made up of representatives from the top four major U.S. carriers as well other mobile payment solutions providers.
Representatives from AT&T, Verizon, Sprint and T-Mobile will constitute the core of the task force and work to develop industry-wide policy and strategy for mobile payments providers, Venture Beat reports.
“There are a lot of different pathways to enable consumers to use mobile payments,” ETA CEO Jason Oxman told VentureBeat. “The idea behind the committee is to get all the players around the table, ask everyone to take off their company hats and put on their industry hats, and talk about what issues need to be resolved.”
One of the developing providers that may join the ETA is Square, which just inked a deal with Starbucks to enable mobile payments.Back To Blog