How Does New Wireless Technology Affect Instant Approval Merchant Account?

It has been reported that AT&T, Verizon and T-Mobile in communication with Discover Financial Services and Barclays Bank to produce wireless merchant account for smart phones.

"Carriers and their financial backers have built a system that supports payments via smart phone swipe in front of a contact less card reader. The real-world trial is expected to take place in Atlanta and three other cities in the U.S. according to sources," according to somebody involved in the process.

This new technology, even though it is still being tested, is really not all that groundbreaking. In 2009, Citibank implemented its "Citi Tap" program on a test basis in India. Using near-field communications technology, Citibank has launched a new-generation, contact-less, credit card processing mechanism in Bangalore.

This blog will keep readers posted on how this new technology will affect your instant approval merchant account.