Technology, Mobile Payment | featured news

Verizon and Intuit announced Thursday that they are teaming up to introduce a mobile payment system that will let customers swipe their credit cards with their smartphones. Verizon will sell the Intuit Reader smartphone accessory in its retail stores. The Reader plugs into the audio jack of most Android phones, BlackBerrys, the iPhone and the iPad.
The product rollout is intended to make it easy for small-business owners and others to process mobile payments, likely boosting sales of smartphones.

Verizon Wireless will use technology from American Express for mobile phone payments, allowing Verizon customers to use the financial company's Serve software to make online payments.

In the past year, mobile payment systems have picked up steam and are now becoming mainstream. Could our wallets be replaced one day soon by our smartphones?

EBay paying $240 million to buy closely held Zong, a provider of mobile payments, as the e-commerce giant seeks to strengthen its PayPal business.

Google Inc. launched its bid to dominate a world where the smartphone has replaced the wallet as the container for credit cards, coupons and receipts.

Three of the nation's four largest banks are launching a system that lets customers transfer money from their checking accounts using only a mobile number or e-mail address.