Most banks and credit card companies are keeping a close eye on the impact of mobile payment solutions on their businesses — but retailers ought to be concerned as well, argues Citigroup’s Bill Johnson.
Johnson is in charge of the Citigroup unit that issues credit cards on merchants’ behalf, working with such big names as Macy’s, Home Depot and Sears.
“Right now, I think that there’s a lot of frustration,” Johnson said of retailers’ take on the mobile payment space at the Card Forum and Expo last week. “They’re worried about who owns the data, who owns the relationship.”
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