"Speaking at Teradata’s recent user group conference in Dallas, he predicted that mobile phone-based payment solutions, which the bank announced earlier this year, would eclipse cards by allowing bank customers to pay directly from their bank accounts, a prospect that he said terrifies Visa and MasterCard. Europe, and especially Eastern Europe, has some advantages over the US because it developed its payments infrastructure later and is not stuck with cheques as a dominant payment method.
Poland has never developed much of a credit card business, so the way has been clear for banks to launch mobile as a way to pay at shops, for e-commerce, person to person payments and ATM cash withdrawals." Continue Reading
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