NRF Urges FTC to Develop 'Mobile Friendly' Regulations

As mobile innovation and its processes begin to emerge, the National Retail Federation has urged the Federal Trade Commission) to avoid imposing regulations that forestall technology and imagined advances based on speculation. The FTC is in the process of establishing mobile payment rules and regulations and it is feared that they will not parallel the underlying forms of payment and instead these policies might be specific to the mobile innovation.

The VP as well said that "some of the best innovations on the Internet today might have been suspect a generation ago however today they are benefits few consumers would want to live without." The public largely determines where a innovation goes and very often embraces change as the ‘future’ becomes ‘now’.

Duncan was very optimistic of the fact that the phone would not replace the credit or debit card. It is simply a device and not a payment and would only be used to process a bill and any privacy rules should along these lines not be more restrictive than those of other payment forms. Retailers are always trying to know their clients better and the mobile will help in that area as then. In order to develop regulations that are ‘mobile friendly’, Mr. Mallory said that a "definition of what constitutes a mobile payment should be addressed."