Mobile Wallets

The Denver Post reports today: "Instead of swiping a plastic card at the checkout counter, consumers would merely wave their phones....while technology already is being installed in millions of phones -- and is used overseas-- wide adoption of so-called mobile wallets is being slowed by a major behind-the-scenes battle among corporage giants.... the stakes are enormous because small, hidden fees that are generated every time consumers swipe their cards add up to tens of billions of dollars annually in the United States.... a joint venture by Verizon, AT&T, T-Mobile, and Discover to create their own mobile wallet...known as Isis, is expected to introduce its system next year.... Barclaycard, already a major player in Britain, will be the first issuer of the group's in-phone credit card and see it as an opportunity to expand in the U.S. " Consumer groups are also concerned about the ease of payment use and a high rise in debt for consumers.