Carper included in Senate effort to explore mobile payments

How safe are your mobile payments? How stable are encrypted credit card swipers? Apparently, the federal government really wants to find out.
Last month, the U.S. House of Representatives formed the Congressional Payments Technology Caucus — a bipartisan committee created to search for solutions surrounding mobile payment data security.
As of this week, the U.S. Senate has decided to do the same.
Tasked with exploring new developments in mobile payment technologies, the Senate Payments Innovations Caucus includes four U.S. Senators. One of those legislators just so happens to be Delaware’s very own Senator Tom Carper.
Carper said the mobile payments technology industry is an “exciting, innovative space that has many potential benefits for consumers and businesses.” He went on the state how crucial mobile payments technology is to Delaware’s economy.
It’s a valid point. Not just for Delawareans, but for businesses and consumers nationwide.
According to a report from the News Journal, just under 70 percent of all consumer spending uses mobile technologies. That spending is expected to increase to an estimated $7.3 trillion in two years.
That’s a lot of zeroes.
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One mission the new Senate caucus will embark on: finding ways to apply these innovations to mobile banking services. The ultimate goal would be to provide access to banking services for the 9.9 million U.S. households without a checking or savings account.