Credit Cards, Electronics | featured news

CTIA Wireless, the U.S. cellphone phone industry's annual trade show that starts Tuesday, is drawing heavy participation not just from the cellphone industry, but from MasterCard, Visa, and other companies in the business of moving money around.

Verizon Wireless is blocking Google's new flagship phone from supporting Google's attempt to make the smartphone the credit card of the future. In blocking the Google Wallet software from running on the new Samsung Galaxy Nexus, Verizon Wireless said Tuesday that it was waiting to provide a wallet application until it can offer "the best security and user experience." Verizon and rivals AT&T Inc. and T-Mobile USA are part of a consortium called ISIS that is planning its own payment system.

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.