A hit overseas, digital-content downloads are becoming hot credit vehicles in the U.S. thanks to firms like Valista and Qpass. Banks should take this threat seriously…The concern among banks and the hope among mobile providers is that by enabling the purchase of goods and services through the cell phone, and by aggregating the credits into monthly billing cycles, mobile operators and their payment service providers can chip away at what’s typically been bread-and- butter revenue for credit card issuers-transaction and merchant fees-if adoption is sufficient or successful.
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