Paymo aims to make mobile payments a reality in the U.S.

Paymo aims to make mobile payments a reality in the U.S.
Tags: POS, Payments, Technology
March 11, 2009

Fortune: The mobile phone has yet to become a tool for payments in the United States, largely because the different players in the mobile payment ecosystem — wireless operators, banks, credit card companies and software providers — have tended to squabble over how to divide the fees from such transactions.

Now one promising upstart thinks it has cracked the code. Paymo, a two-year-old mobile payment network, says it has forged deals with four U.S. carriers — AT&T, T-Mobile, Cellular One and Virgin Mobile — that will allow users to buy digital goods online and pay with their mobile phone.

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