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Retailers seek to cash in on mobile-payment trend

Source: Andrea Chang & Jessica Guynn, L.A. Times (Free Registration)

With more shoppers wielding smartphones instead of credit cards and cash to pay for purchases, some of the nation's largest retailers and restaurants are trying to wrest control of the fast-emerging mobile-payment industry away from technology firms. More than a dozen merchants, includingWal-Mart Stores Inc.,Target Corp.,Best Buy Co.andSears Holdings Corp., said Wednesday that they were teaming up to develop their own walletless platform, including an app, that will enable tech-savvy customers to quickly pay for goods with their smartphones.

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Tags/Keywords

financial, online, smartphones, mobile payments, apps, payments, digital wallets

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