The Times writes:
Mobile phone manufacturers have now set their sights on supplanting your wallet. Their new generation of phones will link to your credit or debit account as part of a joint initiative with phone operators, banks and credit card companies. They predict this one-swipe payment technology will potentially replace cards and cash and make it possible to go shopping armed only with a mobile phone.
A pay-by-mobile system already operates in Japan, where it is nicknamed o-saifu keitai (mobile wallet), and trials are under way in the United States, France and Sweden.
Industry insiders predict the new technology could arrive in the UK within one year.
