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  1.    #1  
    Hi all,

    In spite of the fact that I was self employed all of my working life, I am very pro consumer, (especially since I grew up in NYC/NYS, which is a very pro consumer area), the following is a great idea!

    Take care,


    Jay


    Consumer Reports Says Mobile Payments Need Consumer Fraud Protection
    By MARSHALL KIRKPATRICK of ReadWriteWeb, August 25, 2010

    Consumer Reports Says Mobile Payments Need Consumer Fraud Protection - NYTimes.com

    You'll probably be paying for goods and services around town with your iPhone or other smart phone soon, but what will happen if a vendor makes an error or your phone is lost or stolen?

    The Consumers Union, the nonprofit publisher of Consumer Reports, has called on the US government to issue regulations for the coming era of mobile payments just like it has for protecting consumers from credit and debit card fraud.

    The group argues that while mobile payments backed by credit card may be protected under existing legislation, payments charged to phone bills or pre-paid deposits required for mobile commerce by some phone companies may receive no protection at all.

    "Consumers should not be expected to figure out what protections apply to each competing new payments venture," Michelle Jun, staff attorney for Consumers Union, said via coverage by NearFieldCommunicationsWorld.com today. "Regardless of the technology or business organization involved, the same high level of consumer protections should be guaranteed by law and contract for any payment service. Now that mobile payment ventures are emerging in the US, it's time to harmonize and extend consumer protections for all payment services."

    Apple made headlines earlier this month for hiring one of the leading experts in Near Field Communications technology. NFC is a short-range, high-frequency wireless technology which lets devices, primarily mobile phones, communicate with other NFC devices in order to exchange data. This allows for a number of applications including mobile ticketing, mobile payment, e-money, electronic keys, smart billboards and more. NFC will be included in all Nokia phones around the world starting next year.

    Earlier this month, analysts ABI Research outlined some of the obstacles NFC faces in becoming an everyday means of commerce, as well as some of the more viable software alternatives.

    No matter how it's implemented, the era when most of us leave the house with our wallets, keys and phones in hand is likely to be surpassed soon by a time when the phone performs many more functions than it does today. Consumer fraud protection for that such a method of commerce is only logical and certainly seems timely.


    Copyright 2010 ReadWriteWeb. All Rights Reserved.


    ReadWriteWeb is an independent technology blog.
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group
  2. #2  
    Hasn't this kind of thing been going on in Europe and Asia for years? I doubt we need to reinvent the wheel to get it rolling.
    Sprint|Samsung Epic
  3.    #3  
    Don't be so sure of that...

    For example, if you pay for something by credit card under US federal law you have many rights in disputing a charge, which by the way YOU DON'T HAVE WITH A DEBIT CARD....

    For example, I made a very large purchase when I was in London a few years ago, it was several thousand dollars and I charged it on my AMEX card....

    However, the firm when into the UK version of bankruptcy a 10 days later....

    Amex refunded me the money...they told me and I have since verified this with NYC/NYS, Florida, PA and US federal law...If I paid for it with a debit card, I would have been out the the money!

    That is what CU is talking about...

    Also, if you have a disputed charge on a credit card under US Federal law, they credit company fights for you, by crediting you first and they investigating after...agin under NYC/NYS, PA, FL & USA law if it is a debit card the bank doesn't have to do so and rarely does...

    I mentioned NYC/NYS, PA & FL...b/c during that period of time I lived in each of those states....using a debit card gives you very little rights as a consumer....I have no idea what other countries do.,.....but here you can get screwed.


    Even my attorney had a problem with a debit card, he bought a computer that was broken when he opened the box...he paid for it with a debit card and discovered he had many less rights disputing it than if it were with AMEX, MC or VISA!

    Use your debit card with great care and when traveling especially out of the country do not pay for things with your debit card!

    Take care, Jay
    Last edited by ilovedessert; 08/26/2010 at 05:38 PM.
    Please Support Research into Fibromyalgia, Chronic Pain and Spinal Injuries. If You Suffer from These, Consider Joining or Better Yet Forming a Support Group. No One Should Suffer from the Burden of Chronic Pain, Jay M. S. Founder, Leesburg Fibromyalgia/Resources Group

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