Wednesday, August 4, 2010

Smartphones pose a threat to debit and credit cards in the US

The British bank has reportedly teamed up with AT&T, Verizon and TMobile to test out technology that would allow US consumers to buy products and services simply by waving their phone at a reader.

The trials – involving smartphones such as Blackberries and iPhones – involve embedding a radio frequency identification (RFID) tag inside a phone to allow it to be linked to a customer's bank account.

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