Using Cell Phones to Make Payments

According to today’s embedded ABC News video, Verizon, AT&T, and T-Mobile are working together on a project that turns cell phones into a method of payment. People will soon be able to make a payment by scanning their cell phones at a cash register, as what they would have sliced their credit cards. How cool it is!

Another update comes from Starbucks and Target. Customers can make a payment with a mobile payment app on their smart phones in Starbucks and Target Stores. To use this app in Starbucks, for example, customers need to download the Starbucks Card mobile app and load money on it with a credit card. A payment is made when a cashier scans the bar code shown on a smart phone’s screen.

As expected, 50% cell phone users in the U.S. will use smart phones by the end of 2011. Today’s news updates confirm the importance of mobile devices in business. Very soon, we may not need to carry anything but cell phones when we go out because cell phones can now be used as hotel room keys, coupons, and a means of payment. What other things can a cell phone do? Or, shall I be more futuristic and ask, is there anything that a cell phone cannot do?

Medill Report: (Picture was also downloaded from this site)

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