18 February 2006 94 views No Comment Print This Post  Email This Post

Elena Malykhina reports for Information Week on mobile payments as mobile phones are increasingly expected to also become payment instruments.

While today cell phones are mostly used as communication tools in the U.S., in the future they will be used as payment tools in places where there are transaction terminals, says Johan Valentine, general manager of the Americas for SmartTrust, a global mobile device management company. Smart phones and PDAs are expected to lead the way, with feature phones following thereafter. The cell-phone-as-wallet application is likely to be driven by feature-rich mobile devices in the hands of young people, Valentine says.

Source: Payment News