Don’t swipe that phone literally; we aren’t condoning mobile phone theft here! No, we’re talking about swiping your phone over a Master Card Mobile PayPass Terminal. I use a similar technique with the RFID tag in my American Express card to save from swiping the magnetic strip, for example.
According to DigiTimes, a similar technology was launched by Taiwan Mobile using the Nokia 3220 handset. It certainly saves you from carrying that credit card, but makes it even more important to guard that phone since you typically don’t need a signature for this transaction. Maybe we need LoJack in our phones and not just in our laptops….either way: is this something of interest to you as a consumer? I’ll all for never carrying cash again myself….