Soon Indians will also be able to use use their mobile phone as their wallet. Countries leading telecomm operators Hutch, Airtel and Reliance Communications are initiating global pilot project to offer mobile phone with an embedded credit card chip.
This RFID (Radio Frequency Identification) based technology will let your cell work as a mobile-cum-wallet with phone working as a credit or debit card.
User will have to swipe their mobile phone through a ‘near field’ communications terminal placed in shops and pay their payments with a common phone bill.
The Cellular Operators’ Association of India has approached the GSM Association, a global operator to use global systems for mobile communications technology. It will also give Indian’s the facility of international transactions on credit cards.
Cellular Operators’ Association, secretary general, TV Ramachandran, said that this project will be a ‘technology demonstrator’.
Never the less it will the first of its kind initiative in India.
Japan based NTT DoCoMo is already providing this wireless credit card service with a technology developed by Sony and Philips.
Via: Rediff
