What's On Your Phone? Probably Not Your Wallet

Mastercard is just the latest financial behemoth to jump into the mobile wallet game, but it's not clear if anyone is winning in this space.

At a grandiose event atop the World Trade Center, Mastercard unveiled new technology that will enable partnered banks and retailers to send and accept money through a mobile phone. The announcement "will have marked an important moment in our history, and we hope, our industry," said Mastercard's Craig Vosburg.

Read Full Story