Verizon, 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.

Verizon Wireless, AT&T and T-Mobile formed a joint venture to allow their customers to pay for goods and services with their cellphones. Google's CEO said the next version of Android would allow phones to work as digital wallets.