The trade association of the payments industry is launching a new committee aimed at addressing the policy and business issues accompanying the growth of mobile payments. The Electronic Transactions Association announced that its Mobile Payments Committee will be an industry-wide task force with members drawn from companies in the mobile payment space, including representatives from all four major U.S. carriers: Verizon, AT&T, T-Mobile and Sprint.

"Mobile payments represent a game-changing business opportunity for our industry, and ETA's mission is to help our member companies succeed in this business," ETA CEO Jason Oxman said.

The payment industry must work collaboratively to ensure that the regulatory and business environment promotes innovation and cooperation, Oxman said.

"As the trade association of the payments industry, ETA is the hub of activity in mobile payments, and our Mobile Payments Committee will help ensure that consumers and merchants have access to an efficient, reliable and secure mobile payments system," he said.

Jackie Moran, executive director of federal relations for Verizon, will chair the new committee. Membership is drawn from ETA member companies such as credit card networks, processors, mobile network operators, developers, financial institutions and device manufacturers.

"As a nascent industry, the mobile payments market is just beginning to realize its full potential as a robust enabler of global electronic commerce," Moran said.

"The Mobile Payments Committee is designed to ensure that the early stages of mobile payments are handled in the best possible way: with insight and ingenuity from all the players — private as well as public sector — involved in the exciting future of mobile payments," Moran said.

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