Visa, Nokia turn cell phones into credit cards

[KarlMarx]

Visa, the credit card giant, has launched a global system to turn mobile phones into wallets for millions of customers in a deal with the world's top handset producer, Nokia. Consumers will be able to pay for groceries and other purchases by swiping a phone over a reader that electronically communicates with a microchip on the phone. Phone owners confirm the purchase with the push of a button and the deal is complete. The platform is the result of many years of trials worldwide and will enable contact-free payments, remote payments, person-to-person payments, and mobile coupons. (Reuters www.news.com (http://news.com.com/Visa%2C+Nokia+turn+cell+phones+into+credit+cards/2100-1039_3-6148899.html?tag=cd.top) 01/12/07)