Bloomberg's Eichenbaum Interview on AT&T, Verizon

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Aug. 2 (Bloomberg) -- Bloomberg's Peter Eichenbaum talks with Julie Hyman about AT&T Inc. and Verizon Wireless's plan to displace credit and debit cards with smartphones, posing a new threat to Visa Inc. and MasterCard Inc. The trial would be the carriers’ biggest effort to spur mobile payments in the U.S. and supplant more than 1 billion plastic cards in American wallets. The system would allow consumers to pay at stores with a contactless wave of a smartphone. (Source: Bloomberg)

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