Read Write Web looks at mobile payments.
This has been a very busy market in 2011, as credit card companies, banks, carriers, Google, eBay and a number of startups jostle for position. One of the defining features of the next generation of smartphones - which are starting to come out now - will be a technology called NFC (Near Field Communication). Instead of whipping out your wallet at a store, via NFC you'll simply tap or wave your phone to make a payment. This has major implications for banking institutions and the four main payment networks in the U.S.: Visa, MasterCard, American Express and Discover. All have been actively preparing for this sea change in how we pay for things. read more