Visa Launches U.S. Mobile Phone Money Transfer Pilot

Visa is running a mobile phone trial where consumers will be able to transfer money using their phones to any other Visa user. "The pilot, which is intended to begin by the end of 2008, is the first U.S.-based trial testing mobile money transfers between Visa accounts," Visa said, but it has already been doing it in 13 countries in Europe, the Middle East and Asia.

Visa also said it will be working with cell phone maker Nokia to create a contactless payment phone that will include discounts and other ads from retailers and that it will be working to create mobile payment services for Google's Android platform. Not all observers are favorably impressed.