Use your smartphone as a credit card?

April 16, 2007

This seems too good to be true.  Visa and Mastercard are (separately) working on technology that would make it possible for your smartphone (Blackberry, Palm devices, Windows Mobile devices, and many cell phones) to also operate as a credit card.  You’d make purchases by bringing your smartphone close to specially designed EFT (credit-card machines that you see in stores) which would then detect your credit card info and process it.  And your smartphone would then tell you how much money you’ve got left in the bank.  Smartphones would also be able to get info from business cards as well as specially-designed advertisements in magazines.  Ain’t technology wondrous (and a bit scary, too)?

Thanks to MyTreo.net for this nugget.

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