VISA is looking to make a huge splash in the mobile payment sphere in a big way next week. At least that's what its CEO said during a financial call. How big? I'm guess it's bigger than the one that AT&T, T-Mobile, and Verizon ambitiously tried to create before scaling it back, even before its launch.
Only time will tell when, not if, we will start paying for things with our mobile devices. What of AMEX, Mastercard, and Discover?
I was always curious about how the wireless providers could have came up with a payment system without involving the credit card companies. Even if the likes of eBay (with Paypal), Google's Checkout, or even Apple's database of hundreds of millions of credit cards, they would all still have to go through the credit card companies.
I envision VISA creating its own protocol or API that would allow developers and device makers to use of NFC abilities that more and more smartphones will support. Maybe there won't be a splash from VISA. We are looking at a move from a bunch of credit cards in our wallets to a bunch of credit cards in our mobile devices.
Still, I'm pretty excited.
More at RCR Wireless.