February 19, 2007

Phones serve as credit cards

Visa, the world's biggest credit card payment system, has partnered with Nokia handset makers to make mobile phones serve as credit cards. Here is an excerpt of the news...

Users can pay for groceries and other purchases by swiping a phone over a reader that electronically communicates with a microchip on the phone. Phone owners confirm the purchase with the push of a button and the deal is complete.

This opens the door for more security issues, stolen cell-phone cases, identity thefts, etc... This sure makes the cellphone a digital wallet, and hence more valuable than ever. I believe, the more valuable it gets, the less freedom I will have in my careless usage.

2 Comments:

CreditFan said...

As I said someone before the partnership of credit card companies and mobile companies is really good for everybody. There are more possibilities now for everybody. You know, I like to combine everything… Credit card + cell phone are success!)))

. said...

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