Using Smartphones As Credit Cards

Using Smartphones As Credit Cards
technology

AT&T and Verizon, are joining hands to bring an RFID-based system that will allow smartphones to be used as credit and debit cards.

Naresh Kumar
  • 9 august 2010

The two biggest mobile carriers in the US, AT&T and Verizon, are joining hands to bring an RFID-based system that will allow smartphones to be used as credit and debit cards. The phones would be embedded with an RFID chip that will contain information about the user, much like the magnetic strip on a credit card. Simply holding the phone against an RFID reader will process the transaction.

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