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US telcos hire GE Capital CMO to head mobile payments joint venture

AT&T, Verizon Wireless and T-Mobile USA have hired Michael Abbott, the chief marketing officer for General Electrics’ GE Capital card business, as the chief executive of their NFC-based US mobile payments venture, according to the Wall Street Journal.

The mobile network operators and their partners, Discover Financial Services and Barclays, are expected to formally announce the creation of the joint venture this week.

Abbott, who started his career as a research engineer at IBM, has been with GE since 2002.

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