Mobile payment processing startups are appearing. They can roll their own back office, or partner with visa/mc/paypal.
http://www.forbes.com/forbes/2010/1025/technology-mobile-payments-cellphones-fraud-visa-calling_2.html
Bling Nation, a Palo Alto startup that is building an alternative payment system that would bypass Visa entirely. Bling says that by starting with a clean technology slate it can charge merchants half or less of what they pay now. But a major challenge for Bling--or anyone trying to build a payment network from scratch--is that it must first persuade thousands of merchants to buy or rent yet another terminal to sit next to the one they now use for Visa and MasterCard.
Thursday, October 07, 2010
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