The US Payments Forum is creating the Mobile and Contactless Payments Working Committee, to explore mobile and contactless payment opportunities and challenges, identify solutions, and share guidance and best practice. The Forum says it also plans to address issues including tokenization, card-not-present security solutions and encryption. “Our goal is to provide concrete, usable guidance to make new and emerging payment technologies a reality in the US,” says Forum director Randy Vanderhoof. The committee will hold its first working session on December 8.
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One comment on this article
A day late and a dollar short. The innovators see the opportunity and are seizing it. The beauty of their solutions is that they exploit the existing infrastructure, co-exist with it and with one another, but do not require dominance to succeed. The mobile computer, with all its sensors, is sufficiently powerful, flexible, and convenient as to drive mag-stripe and contact chip cards from the market.
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