In January 2010, the Federal Reserve Banks of Atlanta and Boston, through their Retail Payments Risk Forum and Payments Research groups, convened a selected set of key players in this country's emerging mobile payments ecosystem. The goal of the meeting was to facilitate a discussion among all involved parties as to how a successful mobile payments (as opposed to mobile banking) regimen could evolve in the U.S.

Over the past 15 months, the self-named Mobile Payments Industry Workgroup (MPIW), met five times to share information and ideas, discuss the barriers and opportunities resident in mobile payments, and ultimately, to suggest a vision for the building blocks of an efficient and ubiquitous mobile payments environment. Ultimately, the discussions of this group, along with additional industry dialogue and literature research, constituted a body of input to the development of a research paper regarding the future for point-of-sale (POS) mobile payments in the United States.

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