From Business Week.com Will that be cash, credit or cell?
For years, techies and wireless phone companies have coveted a dream: turning the ubiquitous cell phone into a virtual wallet. In the late 1990s everyone from Nokia Corp. (NOK ) to Visa was plotting to roll out services in the U.S. that would let people use their cell phones to buy everything from soft drinks to cars
C-SAM Inc., a tiny, privately owned software developer in Oakbrook Terrace, Ill., is expected to announce plans on June 20 to roll out a service early next year that will allow people to use their phones as credit cards.
Some require buyers to dial a phone number to authorize payment. C-SAM, on the other hand, lets users navigate through a cell phone menu
What will really work is waving your cell and the credit card chip inside will be recognized. I explain HERE