Cingular, one of the major cellular networks in the US, has announced it is working with Citibank, MasterCard and Nokia to develop a technology that allows a credit or debit card function to be downloaded into a Nokia mobile phone.
The idea is to leap-frog ahead of the MasterCard Paypass and Visa Wave RFID card programs currently being tested around the world, and use an NFC (Near Field Communications)-enabled mobile to act as a token for buying things.
Triallists will be required to operate a Citibank card and a Nokia phone on the Cingular network.
The plan is for the phones to be used anywhere that a Paypass card can be used in New York, as well as on the New York subway, which is currently trialling an Oystercard lookalike card program.
Sounds like a great idea - until you lose your mobile...