People Using Iphones as Wallets

New iPhone case turns phone into mobile wallet

In the near future, customers may be able to use their iPhones as creditcards. DeviceFidelity has built an iPhone case that will enable an iPhone itself to be used as a form of payment. Customers would be able to leave purses and wallets at home, carrying only their iPhone, and make purchases. While similar devices are commonly used in Japan, DeviceFidelity’s website will run trials in the second quarter of 2010 for North American usage.

Source: ATM Market Place

How to accept credit card payments using your mobile phone

A new application for iPhone, iPad, iPod Touch, and Android-powered phones turns mobile devices into a handheld Point of Sales, letting US-based consumers accept credit card payments from virtually anyone who is willing to get their card out of their wallet.

Mobile payment options are rapidly expanding as consumers gravitate towards a paper-moneyless society.

The trend has been around for a long time but is only now becoming a readily-accepted (and secure) method of payment in the Western world. Consumers in Japan and South Korea have been able to make small payments for goods and services with the swipe of their mobile phones for years and have become heavy users of mobile payment systems.