WAKEFIELD, Mass.—In an effort to spur mobile commerce, four credit card giants joined forces to create the Mobile Payment Forum, which will work to address key issues like interoperability, passwords, cardholder authentication and encryption methods.
According to the forum, the goal is to “offer consumers a secure and seamless m-commerce payment experience with greater consistency regardless of where they are in the world, what device they use, where they shop or which payment card they use.”
The four companies behind the push—American Express Company, JCB Co. Ltd., MasterCard International and Visa International—said the forum will seek to achieve broad cross-industry cooperation, attempting to involve all major m-commerce players in the development of a foundation for mobile payments.
The companies said members will include financial institutions, telecommunications operators, wireless-device manufacturers, merchants, content providers and software and hardware developers and vendors. The forum will also work to complement the work of other industry groups, including MeT, the Mobey Forum and the WAP Forum’s E-commerce Expert Group.