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Monday, July 2, 2012

Smartphone Program Turns Phone Into Credit Card

     Still in its embryonic stage, smartphone payments, that allow users to pay via their smartphone and avoid the need to carry cash or credit cards, are on the rise.  The software that provides these wireless smartphone transactions, usually e-mails the user an electronic receipt for their records. Near frequency chip (NFC) technology will soon (within a year, or so) allow customers to pay by having his or her phone near a credit card terminal.  Various subway systems around the U.S. have already experimented with letting riders walk through turnstiles by having them wave their phones near a machine.  See also, http://www.wired.com/.

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