Filed under: News | Technology News
Smartphones To Replace Credit Cards?
Aug 3 2010, 10:10am CDT | by Robert Evans
Smartphones have already replaced cameras, portable computers and MP3 players in the lives of many people. Soon they may replace another product, freeing up more space in pockets around the country. Bloomberg reports that AT&T, Verizon & T-Mobile are working with Discover Financial Services & Barclay Plc to find a way to allow smartphones to act as credit cards.
This new system would allow you to swipe your phone in place of a traditional plastic card, something tech geeks have been dreaming about since the first PDAs hit the market. Mobile carriers are already well experienced with processing tons of payments. More than half of US consumer purchases are made with some form of card.
Implementing this technology will not be cheap. Retailers will be forced to buy a $200 reader, and updating phones with the proper technology will add $10-$15 per unit. That is steep, but the gain in convenience makes it pretty much inevitable. People will nearly always choose to carry less.
where to buy
What Others Say about This
Indian shares up 0.3 pct in choppy trade
* Investors cautious after recent rally in stocks * Moody's ratings warning weighs on risk appetite * SBI, Tata Motors rise; software stocks, Cipla fall (Updates to mid-morning) MUMBAI, Feb 14 (Reuters) - Indian shares traded 0.3 percent higher in choppy ...
Full article at: Reuters.co.uk
More like this 3 hours ago
Indian shares up 0.3 pct in choppy trade
* Investors cautious after recent rally in stocks * Moody's ratings warning weighs on risk appetite * SBI, Tata Motors rise; software stocks, Cipla fall (Updates to mid-morning) MUMBAI, Feb 14 (Reuters) - Indian shares traded 0.3 percent higher in choppy ...
Full article at: Reuters
More like this 3 hours ago
Indian shares up 0.3 pct in choppy trade
* Investors cautious after recent rally in stocks * Moody's ratings warning weighs on risk appetite * SBI, Tata Motors rise; software stocks, Cipla fall (Updates to mid-morning) MUMBAI, Feb 14 (Reuters) - Indian shares traded 0.3 percent higher in choppy ...
Full article at: Reuters
More like this 3 hours ago
Don't miss ...
Robert Evans
The excitement about new smartphones, tablets and anything mobile drive
Robert to unearth the latest rumors and developments in this fast
moving space. He adopted 4G as soon as it become available and knows
where the mobile market is going.
Robert can be contacted directly at robert@i4u.com.
blog comments powered by Disqus Comments
Latest stories
Fantastic tool for racers and anyone else looking to easily and quickly remove wheels from the vehicle
- Visit our Homepage for the Latest Rumors, News and Shopping Tips
Featured hubs
I4U: Follow the Gadget Life Cycle
I4U News covers the complete life of a gadget starting with rumors. Some rumors turn out to be true and become news and gadget reviews become interesting. Then a gadget goes on sale. Now it is all about shopping and deals.