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Goodbye Cash And Credit Cards.(Industry Trend or Event)

Wireless Week

| October 30, 2000 | Mendez-Wilson, Deborah | COPYRIGHT 2006 Advantage Business Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Mobile Micropayment Would Enable Consumers To Pay Via Phone

Several decades ago, when the notion of paying for goods and services with plastic first arose, merchants were hard-pressed to believe that credit cards would ever replace dollar bills and coins. Today "mobile micropayment" or "cashless vending," the ability to use a wireless phone to buy a Coke or pay for a taxi ride, might elicit the same response.

Still, skeptics don't deter developers of such products and services. Advocates of mobile micropayment say wireless phones will become "lifestyle remote controls" that enable consumers to pay for everything from gas to groceries, freeing them from cash and credit cards. Analysts, however, caution that a few hurdles--including security and…

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