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The Wall Street Journal reports that Motorola plans to “launch a system that will allow people to purchase products simply by waving a cellphone with an embedded chip over scanners at the cash register.” It is called the “large-scale mobile-wallet service in the US,” and the WSJ notes that such services are prevalent in Asia, where cellphones “can do everything from buying groceries to purchasing movie tickets. Tokyo commuters can now board trains by waving their phones over a sensor in turnstiles.”

However, it isn’t as simple as just making the phones.

Motorola also has to find a wireless carrier that wants to be part of the service, and then has to convince retailers to install the technology capable of reading the cellphones.

“The move by Motorola is the latest effort by the wireless industry to come up with new sources of revenue to make up for declining calling rates and market saturation,” the Journal writes. “Already, consumers are using their phones to take pictures, listen to music and send text messages. But financial transactions add a host of new issues, not the least of which is security.”
KC's View:
We’re probably wrong about this, but you’d think that it would be pretty easy to enlist people and companies in this move to what are being called M-Wallets. Just take them to Asia and watch how the people there use their cellphones for a day or two…that ought to convince anyone that this is the future, and US companies should not be behind the curve.