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Payment networks are also keeping an eye on blockchains, attracted by their tiny transactions costs.
This allows it to side-step the big payment networks and their stiff interchange fees.
Do you think consumers would benefit from more competition among payment networks?
The system integrates with the Visa and MasterCard payment networks, among the most complicated around.
Mobile phone carriers, banks, credit card issuers, payment networks and technology companies are all vying to control these wallets.
Mobile phone carriers, banks, credit card issuers payment networks and technology companies have been battling over their roles.
Cellular carriers, banks, credit card issuers, payment networks and technology companies all have a stake in this battle.
In most countries where electronic payment networks were quickly established, there were just a few national banks.
The challenge is that mobile payments require agreement by banks, credit card companies, retailers, cellphone carriers and payment networks.
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Second, it owns a payment network linking banks, retailers and consumers.
The card companies agreed to let merchants steer customers to the payment network the merchant preferred.
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