Cellphones as Credit Cards? Americans Must Wait

Imagine a technology that lets you pay for products just by waving your cellphone over a reader, writes The New York Times.

The technology exists, and, in fact, people in Japan have been using it for the last five years to pay for everything from train tickets to groceries to candy in vending machines. And in small-scale trials around the world, including in Atlanta, New York and the San Francisco Bay Area, nearly everyone has liked using this form of payment.

But consumers in the United States won’t be able to wave and pay with their cellphones anytime soon: The myriad companies that must work together to give the technology to the masses have yet to agree on how to split the resulting revenue.

Read full article.

emily | 9:25 AM | SMS and Banking |
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