Short Of Cash? Buy It With Your Cell Phone
Ryan Kim reports for the San Francisco Chronicle on last week's CTIA Wireless 2006 conference and the mobile payments initiatives launched by PayPal and Obopay as well as trials underway exploring the use of near-field communication (NFC) chips embedded in cell phones.
While it's still early in the game, many companies said there's no reason why the rapid evolution of the cell phone shouldn't include the replacement of cash and credit cards."It's really likely in the future customers will reach the same comfort with the cell phone as their credit card," said Tom O'Donnell, senior vice president Chase Card Services. "The cell phone is more than just call making device. It's a content device with music and video and the opportunity is it could it be the way to make payments."
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