SprintPCS Wants To Be Your Virtual Wallet

Being able to make payments via your mobile phone is what mcommerce should be about and is going to about. To that effort SprintPCS is teaming up with eONE Global to create a mobile payment standard for the US. The two partners want to create an interoperable system from the start and are inviting other carriers to join the effort. Virtual wallets are more appealing to carriers because it absolves them from making expensive changes to their billing systems and taking on additional credit risk. They simply store and pass payment info, rather than making the payment and then billing the customer directly for the transaction.

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