The Federal Reserve Bank of Boston[1] has released a report based on the recent Mobile Payments Industry Workgroup (MPIW) meeting to discuss (1) different wallet platforms; (2) how card networks and other payment service providers manage risks associated with converging digital and mobile channels; and (3) merchant strategies around building a mobile payment and shopping experience. [Read more…]
Walmart Tests iPhone App for Scanning Purchases for Checkout
Wal-Mart Stores Inc is testing a system that would allow shoppers to scan items using their iPhones and then pay at a self-checkout counter, a move that could trim checkout times and slash costs for retailers.
If the "Scan & Go" test by the world’s largest retailer is successful, it has the potential to change the way people shop and pay, making the process more personal and potentially faster.
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