Friday, April 22, 2005

"Will That Be Cash Or Cell?"

This is why I said service providers would be buying into credit card companies. How much more biz will credit card companies get when this is standard.

From RFID Journal RFID phone payment systems good to go .

A report by a smart card industry group predicts a strong market for RFID-enabled payment systems using mobile phones, but only if certain issues are resolved

For more than two years, MasterCard, Visa and American Express have been running pilots involving RFID-enabled cards and fobs in the U.S.

Initial results of these pilots have been positive, with credit card companies citing a tendency for consumers to purchase more items in the convenience stores and quick-service food outlets when using the payments devices, compared with consumers paying with cash


Anonymous said...


This is a nice article about biometric identification related to cellphones.

When the security aspect of carrying your credit card info in your cellphone is worked out, everyone will be paying for their lattes with their cellphones -- as well as redeeming their 20% off coupon that was just sent because you were in the area:^)


Scott Shaffer said...

Thanks a bunch.
I find it fascinating how functional the cell phone is becoming. With its functionality, so many other industries are/will be affected.

Thanks for the heads up Walden...

Anonymous said...


I've wondered why the (cell) phone companies don't just set up a 'credit' sub and use another credit card cos. back office for clearing if need be--kind of like private label credit cards are handled--heck they're already in the credit business by virtue of okaying one's account in the first place. They also do collection if necessary. Maybe they don't even need a back office for clearingtransactions. What's another $50 a month in charges or more$ to the phone bill?