Mobile Payment Faceoff at FortuneTech – Forward Thinking by Michael J. Miller
Via Scoop.it – internetbillboards
The most contentious panel at Fortune Brainstorm Tech this afternoon dealt with mobile payments, with the banks pushing mobile payment systems facing off against Google, and the founder of Square facing off against phone-based NFC solutions. Michael Abbott, CEO, ISIS talked about how the mobile phone platform had just announced agreements with all four big U.S. payment platforms – MasterCard, Visa, American Express, and Discover – and said that made the entire industry available.John Partridge, President, Visa talked about people have multiple payment systems and would use different payment types. Doug Bergeron, CEO, Verifone Systems said he had a “presence” in roughly 5 million of the 7 million places in the U.S. that take credit cards. He said when the other companies want to move to a mobile payments world, they should work with Verifone to make sure the new systems coexist with the existing systems.
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