Cash, credit or debit? You may one day have far more choices to make at the checkout counter. A group of big retailers, including 7-Eleven, Best Buy, CVS and Wal-Mart, said on Wednesday that they were forming a company that would offer a way for customers to pay for purchases with their smartphones, joining a wide array of groups and companies seeking a piece of this market. Other than announcing the formation of the payments network, to be called Merchant Customer Exchange, the companies released few details about how their mobile payments would work, and did not say when the technology would become available. Read the full story at The New York Times.
Major Retailers Plan Mobile Payments Effort
Author: Shelly Palmer
Shelly Palmer is Fox 5 New York's On-air Tech Expert (WNYW-TV) and the host of Fox Television's monthly show Shelly Palmer Digital Living. He also hosts United Stations Radio Network's, Shelly Palmer Digital Living Daily, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment. He is Managing Director of Advanced Media Ventures Group, LLC an industry-leading advisory and business development firm and a member of the Executive Committee of the National Academy of Television Arts & Sciences (the organization that bestows the coveted Emmy® Awards).