[dave at farber.net: [IP] Cell Phones Now Playing Role of Wallet]

[Tyler Durden]

Sounds great. Citigroup couldn't be bothered to encrypt millions of their 
customer's detailed data prior to shipping them out via UPS, so I'm SURE 
they won't screw this up.

-TD

>From: Eugen Leitl <eugen at leitl.org>
>To: cypherpunks at jfet.org
>Subject: [dave at farber.net: [IP] Cell Phones Now Playing Role of Wallet]
>Date: Sat, 18 Jun 2005 23:26:21 +0200
>
>----- Forwarded message from David Farber <dave at farber.net> -----
>
>From: David Farber <dave at farber.net>
>Date: Sat, 18 Jun 2005 03:42:30 -0400
>To: Ip ip <ip at v2.listbox.com>
>Subject: [IP] Cell Phones Now Playing Role of Wallet
>X-Mailer: Apple Mail (2.730)
>Reply-To: dave at farber.net
>
>
>
>Begin forwarded message:
>
>From: Monty Solomon <monty at roscom.com>
>Date: June 18, 2005 12:11:34 AM EDT
>To: undisclosed-recipient:;
>Subject: Cell Phones Now Playing Role of Wallet
>
>
>
>       Cell Phones Now Playing Role of Wallet
>       - Jun 17, 2005 11:10 PM (AP Online)
>
>By BRUCE MEYERSON AP Business Writer
>
>
>NEW YORK (AP) -- Already a device of multiple disguises, from camera
>to music player and mini-TV, the cell phone's next trick may be the
>disappearing wallet.
>
>
>After all, since more than a quarter of the people on the planet
>already carry around cell phones, and hundreds of millions are
>joining them every year, why should they bring along credit and debit
>cards when a mobile device can make payments just as well?
>
>
>At the simplest level, all that's needed is to embed phones with a
>short-range radio chip to beam credit card information to a terminal
>at a store register. It's not unlike the wireless system used to pay
>tolls on many highways or the SpeedPass keychain wand used to buy gas
>at Exxon Mobile Corp. pumps.
>
>
>This is already a reality in Japan, where NTT DoCoMo Inc. says 3
>million cell phone subscribers use its Mobile Wallet service to buy
>things at 20,000 stores and vending machines.
>
>
>Similar services may be on the way in the United States and Europe.
>MasterCard International Inc. has been testing phone-based versions
>of its PayPass contactless payment technology since 2003, and may
>conduct a significant market trial next year.
>
>
>But there also are more ambitious visions brewing that contemplate
>the cell phone as a new focal point for managing your personal
>finances. The phone would supplant not only credit and debit cards,
>but wallets, checkbooks, Web sites, computer programs like Quicken,
>and online bill payment services such as PayPal or CheckFree.
>
>
>While the mightiest players in Western banking have yet to embrace
>that notion, and some are dubious of the appeal, the concept has
>drawn interest in other regions and may get a tryout here soon.
>
>...
>
>       - http://finance.lycos.com/home/news/story.asp?story=49940191
>
>
>
>
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>Eugen* Leitl <a href="http://leitl.org">leitl</a>
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