Credit cards to be replaced by Smartphone
According to a reliable source, AT&T, T-Mobile and Verizon wireless is planning to develop a payment system that can be done using smartphone.
This plan poses a threat to Credit cards such as Visa and Mastercard. With out 1 billion credit and debit cards in mostly all of the people in America have one.
The mobile payment system will be tested in three cities in the US and also in Atlanta.
The trial of the system will definitely be a big effort to incite mobile payments in the United States.
The source also revealed that the details of the system are that payment from purchases will be made by holding your smartphone directly in front of the electronic reader.
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