Move over Visa, Here Comes AT&T and Verizon
Today's biggest story that isn't getting the attention it deserves -- AT&T (NYSE:T) and Verizon (NYSE:VZ) to Take on MasterCard (NYSE:MA) and Visa (NYSE:V). Another reason why AT&T Shares may not be Stuck in the $20 Range.
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Cellular carriers need to find more ways to make money in the U.S. as their subscription growth slows. Sprint-Nextel (S), AT&T (T), Verizon Wireless and T-Mobile have about 275 million customers among them. Each levies charges on data transfers and video services, but at some point these will cap out as well. And the heated competition among the carriers pushes down prices as customers shop for the least expensive plans.
AT&T and Verizon Wireless are planning a big move into wireless electronic payments, a sector currently dominated by PayPal, Visa (V), MasterCard (MA) and American Express (AXP). Bloomberg reports that "The trial would be the carriers' biggest effort to spur mobile payments in the U.S. and supplant more than 1 billion plastic cards in American wallets."
See full article from DailyFinance: http://srph.it/dwn301