Las Vegas, Nev. – No single mobile payments provider or platform will dominate the market in the long run, so card networks should adopt a flexible approach, CEOs of two major payment networks, American Express and Discover Financial Services, told attendees at this week’s Money 2020 conference.

The comments follow release of host-card emulation specifications and development of tokenization services by both networks, along with the two largest payment schemes, Visa and MasterCard Worldwide.

“What is absolutely critical is to be flexible enough, and to be technology agnostic that you can go with whatever technology works and whatever technology your customers want you to go with, and we fortunately have that type of platform,” American Express CEO Kenneth Chenault told attendees at this week’s Money 2020 event in Las Vegas, Nev. American Express, the No. 3 U.S. payment network after Visa Inc., and MasterCard Worldwide, announced its tokenization service in the U.S. and released the HCE specifications this week.