It's a phone! No, it's a credit card!

Sony is studying ways to let consumers use their cell phones to buy groceries at convenience stores, pick up the tab for lunch and pay train fares, the company said, reports Wired.

"The electronics giant already has its own smart card payment service called Edy -- an acronym for "euro, dollar, yen" -- which is accepted by about 2,700 stores in Japan.

Sony said it's working on using the same computer chip technology, called Felica, in cell phones. About 2.7 million Edy cards are currently in circulation".

emily | 8:33 AM | SMS and Micro Payments |
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