What are U.S. credit card companies and banks doing to prepare for potentially explosive growth in the mobile payment market? What standards are they supporting or developing? With the explosive growth of the contactless mobile payment market, NFC technology is taking the global shopping experience to another level, where smartphones will soon replace all credit cards and transport. When Apple launched its new Apply Pay service, the three major payment networks - American Express, MasterCard and Visa - all partnered with Apply Pay, alongside popular banks including Bank of America, Capital One Bank, Chase, Citi, and Wells Fargo, which accounts for eighty-three percent of credit card purchase volume in the United States. Additionally, the Master Card company is preparing for this trend on its own by using a radio transmitter and receiver to develop MasterCard PayPass, and it has built more than 300,000 PayPass outlets in the United States. Currently, major card companies like American Express, Discover Network, MasterCard, and Visa all use a common acceptance mark to communicate, based on ISO/IEC 14443. This common standard helps consumers and merchants easily understand the contactless card presented in smartphones and to interact with the data.