Consumers Union Calls for Mobile-Payment Regulations
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)
Consumers Union contends that while federal laws protect consumers if their credit card or debit card is lost, stolen or misused, current protections are badly fragmented and don't apply to all emerging payment platforms. The organization calls on mobile-payment solution providers to offer complete consumer rights provided under existing federal law for both debit and credit cards, also providing true voluntary "zero liability" assurance without loopholes.
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