Congress of the United States
April 24, 2018
Dear Commissioners Ohlhausen and McSweeny:
Technological change is revolutionizing many areas of life and business in the United States and around the world. Our mobile devices have changed the way in which we communicate, shop, and do business. These new technologies are also changing the way we pay for goods and services.
Mobile payments and mobile commerce are making a range of transactions more convenient and efficient. However, this technology is still relatively new here in the United States. Many other parts of the world are ahead of us when it comes to mobile transactions. We need to ensure new mobile payment technologies take root and flourish here.
One key to these technologies taking off is ensuring the incumbent players in the payments industry do not use their market positions to block the development of these technologies. […]