Both Discover Financial Services and the US arm of the UK’s Barclays Bank are expected to take part in the trials. Discover, the US’s fourth largest payments network, ran an extensive mobile payments test using contactless stickers last year and would be responsible for handling the joint venture’s payments processing requirements. Barclays, which has partnered with Orange in the UK for an expected commercial launch of NFC payments later this year would be responsible for providing the joint venture’s financial services requirements.
The trials will be run by a joint venture formed by the three operators, in which AT&T and Verizon have equal stakes in the venture and T-Mobile has a smaller stake. A chief executive officer to head up the joint venture is currently being sought, Bloomberg reports.