Wireless Phones Could Soon Double as Credit Cards

Wireless

Phones Could Soon Double as Credit Cards

As part of the ongoing effort by the wireless industry to make

the mobile phone the Swiss Army knife of daily living, Motorola

announced yesterdays its M-Wallet Solution, mobile technology

that could make carrying your credit card unnecessary.

?Mobile

phones are no longer just about conducting conversations, they

are now emerging as a center of people?s lives for every day

transactions,? said Navin Mehta, Motorola?s vice president of

Applications Management.

To

that point, Motorola's M-Wallet Solution allows consumers to

store credit card numbers on the phone, conceivably allowing

retailers to allow transactions with just a wave of the phone

in front of specially-equipped scanners. M-Wallet also allows

for electronic transfer of money between people, even in different

countries, and could allow merchants to transfer gift cards

and coupons straight to a consumer's mobile phone.

At

present, Motorola has a technology without a host, as no wireless

carrier is currently supporting M-Wallet. However, Motorola

expects to have deals in place later this year.

Published 02/09/06 (Modified 05/07/12)