The mobile phone attracts an increasing number of service applications enabled by technical developments. On-going efforts aim to widen the scope of mobile payments and “turning the mobile phone into a wallet” with the help of Near Field Technology (NFC). A number of industries are involved in this development. To enable large scale commercial application of the new technology for mobile payments, several global industry associations, what we label Global Policy Networks (GPNs), are involved in standard setting, certification, visions and promotion of business applications, etc. The purpose of the paper is to analyze the role of GPNs in establishing global policies to enable business actors to develop and implement local policies applying the new technology for business purposes. The paper focuses on how some yet to be settled global policy issues affect local policies.