Retailers Getting Into Mobile Payments, Citing Security Concerns, Wanting User Data

Consumers may be ready for mobile wallets, but the marketplace is not. Especially if stuff like this keeps happening. Apparently, some two dozen retailers, including big names like Walmart and Target, are working together to create their own mobile payments system, according to sources at the WSJ. That means in addition to mobile wallets provided by banks, mobile operators (Isis), credit card networks, startups (like Square and Dwolla) and tech companies like Google (Google Wallet) and PayPal, consumers will be asked to wrap their heads around yet another mobile payment method: one from the retailers themselves. That's bad news for consumers, as an addition like this can create confusion. But it could end up being great news for more disruptive payment systems like Square.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/cNHKJtcVvfQ/

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