Smart Phones Give Credit Card Companies Competition

Smart Phones Give Credit Card Companies  Competition

Smart Phone
Smart Phone
Major players in the mobile industry, At&T, Verizon and T-Mobile are planning on entering the credit industry. With smartphone technology, consumers will be able to pay by phone by simply waving their phones.

If successful in creating this technology, credit cards may become a thing of the past, leaving credit card companies having to rethink how they do business.

This technology has been discussed for a while in the US and other spin off companies are laying the foundation for the growth of this new way of paying bills. Other countries abroad have been using this technology for a while, and the US is just starting to get on board. As to date, Visa and Mastercard have not integrating with this technology.

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