Tuesday, April 5, 2011

AT&T (T), Verizon (VZ) Respond to Sprint (S) Announcement

With Sprint (NYSE:S) stealing the thunder of AT&T (NYSE:T) and Verizon Wireless (NYSE:VZ) by being the first company to roll out a service which allows consumers to use their smartphones to make purchases by tapping or waving them near electronic readers.

AT&T Inc. and Verizon Wireless have an existing agreement in place, but that was an exclusive one with Discover Financial Services.

After Sprint made their announcement the two companies fell over one another to announce they're going to extend there venture to an all payments network, meaning all card networks will be able to participate.

Sprint appears to be in the lead in launching the wider service, which could win them some customers wanting it as soon as possible.

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