PaymentNews.com recently released an article that the Financial Services Technology Consortium (FTSC) will soon be kicking off an initiative to make recommendations on an approach that would facilitate an interoperable mobile payments infrastructure in the future.
Interoperability amongst key participants (in this case handset manufacturers, banks, mobile operators, & wireless network providers) is an essential element to ensure mobile banking & transactions take off. Like any other technology that requires integration among many participants standards must developed & ultimately adhered too. Without such a standard, I’m afraid it will take too long for us to realize the potential for mobile banking & transactions.
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