The Mobile Payments Committee was launched by Electronic Transactions Association (ETA). ETA also announced today that all four of the major mobile network operators in the US – AT&T, Sprint, T-Mobile, and Verizon – have become ETA member companies and will participate in the MPC. Other ETA member companies participating in the Mobile Payments Committee include Google, Isis, Verizon, Wells Fargo, Capital One, American Express, Discover, MasterCard, Visa, PayPal, VeriFone, Intuit, First Data, Panasonic and Neustar.
The Mobile Payments Committee is an industry-wide task force of representatives from top companies in the market of mobile payments, including the four major mobile network operators. It will develop and implement industry-wide solutions to the complex policy and business issues surrounding the emergence of mobile payments in the U.S and the rest of the world.
“Mobile payments represent a game-changing business opportunity for our industry, and ETA’s mission is to help our member companies succeed in this business,” said ETA Chief Executive Officer Jason Oxman. “Our industry must work collaboratively to ensure that the regulatory and business environment promotes innovation and cooperation. As the trade association of the payments industry, ETA is the hub of activity in mobile payments, and our Mobile Payments Committee will help ensure that consumers and merchants have access to an efficient, reliable and secure mobile payments system”.
The Mobile Payments Committee will address several issues facing the future of mobile payments, including:
• the business relationships needed to foster innovation and achieve network interoperability among merchants, credit card companies, mobile networks, equipment operators, equipment manufacturers and financial institutions
• exploring the necessity of “best practices” that ensure merchants and consumers have access to the most innovative and effective mobile payments solutions
• the education of legislators and regulators developing public policy around mobile payments
• the education of merchants and consumers about the potential of mobile payments to provide a
more efficient, reliable and secure experience at the point of purchase.