Mobile,Phones,Will,Supplant,Cr communication Mobile Phones Will Supplant Credit Cards Soon
The Nokia Mobile Company is the undisputed leader in mobile world, they have latest technology and capability to deliver world class handsets at no extra costs. The N series, E series and C series phones have already rocked the world with th But when we talk about the handsets, undoubtedly, Nokia is the King of mobile phone market and LG stood at the third position. In this article we are concentrating on Nokia E5 from the house of Nokia and LG GM360 Viewty Snap by LG Mobile Com
Withoutconducting any survey one can easily predict that the ubiquitous mobile phonewould be the most prioritized among things one cannot live without. In the late1990s when mobile phones were launched, no one would have ever remotely evenimagined, these amazing devices would one day become the greatest invention ofall time in the field of communication, information, and the endless list ofother applications. Mobiles are adding on new characteristics, to its initialcommunication image, on a regular basis. Lately, it has enabled another featureby filling in the shoes of credit cards. Now one can swipe one's mobile phoneto pay bills in restaurants, shopping malls, railway stations, etc., totransform itself as an e-wallet. AtomTechnologies, the company from Indiathat is behind the invention of software which can duplicate the function of acredit card in mobiles claims that the software is capable of burning theuser's credit card data to a mobile phone. The data would be stored in a 2Dbarcode format and cannot be read even by the user, thereby secures the handsetfrom misuse in an event it is lost or stolen. Besides, authentication in theform of PIN number is required for payment order. The mobile credit cardpayment or 'optical payment' as termed by its inventors, can be used at anybusiness center which accepts credit cards, and has the requisite software witha webcam that could read the 2D barcode. It is alsoloaded with another payment mode called remote location or over the airauthentication, by which the user can use the cards sitting at home or office.In this case, the merchant establishment and the bank are connected over theair and the user will have to authenticate and approve the purchase. Currently,the system will work only on Java-enabled phones. Though the company would belevying a percentage of the transactions as its fee, the software will beprovided without any additional cost to the commercial establishments includingBanks, shopping malls, hospitals, etc. In additionto the above technology, there are already two players who mimic the functionsof the credit/debit card over an SMS, they are mChek and Paymate. mChek hasalready been conferred with the prestigious Global Mobile Award for the mostinnovative application during the recent GSM World Congress held in Barcelona in February,2008. Bothprovide services akin to that of a credit/debit card by storing details on asecure server, and once one is registered, one is issued a PIN number. Thise-wallet has security features what one gets on an ATM, if one were to enterthe wrong PIN three times, one's account gets blocked, besides that,transaction limit is also enabled on the phone. Major benefit of such ane-wallet is they thoroughly eliminate the number of plastic cards one carriesaround. Theselatest innovations in mobile phone technology are also offering servicesincluding money transfer, mobile remittance, bank check clearance, ticketreservation, etc. All these mobile phone technologies indicate that one's phoneis not only just an entertainment and navigation tool anymore but also ane-wallet.
Mobile,Phones,Will,Supplant,Cr