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.
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