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Consumers Union, the nonprofit publisher behind Consumer Reports magazine, is calling on federal regulators to take measures guaranteeing that existing consumer protections are applied to new mobile payment solutions. (FierceMobileContent)

As prospects for NFC-based mobile payment heat up, banks and payment brands are left with the problem of how to secure high-value transactions.

Turkey’s Akbank is planning to launch contactless microSD cards to customers with Visa payWave onboard, which would be a first in Europe.

NatWest bank is dropping out of its O2 Money partnership with mobile operator Telefónica O2, leaving the telco looking for a new partner with which to offer prepaid payment cards and, later, NFC services in the competitive UK market, NFC Times has learned.

While major U.S. banks and mobile operators are not apparently working together on mobile payment, they have attended meetings together convened by U.S. central bank officials, who want the parties to reach common ground on standards, infrastructure and business models.