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Fear and Greed are often discussed among investors and others as the great emotional motivators among capitalists.  Looking through this filter let’s take a look at the big recent news in mobile payments:  a big deal between three of the largest US mobile carriers, a bank and a card network.

AT&T, Verizon and T-Mobile made big news Monday when Bloomberg reported the three of them joining in a mobile payments venture to bring Near Field Communications (NFC) payments to US consumers and merchants.  Adding to the frenzy of excitement, the deal reportedly includes Barclays as the banking and account management entity and Discover Network as the payment “rails”.  For those of us who have been involved in and seen results of consumer NFC trials, this is welcome news and has been a long time coming.  In the trials I’ve seen, consumers absolutely loved using the phone as a contactless payment device, and gave the experience outstanding ratings.  But, as has happened so far, greed and fear will govern the future of NFC, and how those dynamics play out will determine what happens in this market.

Payments Consultant, August 5, 2010