A collaboration among convenience retailers and suppliers has created
the first industry-wide mobile payments standard.
BY CHRIS BLASINSKY
Standards establish consistent protocols that can
be universally understood and adopted. They help
with compatibility and interoperability, simplify
product development and speed time-to-market. It
is only through standards that interconnectivity and
interoperability can be guaranteed.
Without standards, products might not work as
expected, they could be of lesser quality, they may
be incompatible with other equipment—they may
not even connect with them. In addition, customers would be restricted to one manufacturer or
supplier, and manufacturers would be obliged or