Nokia turns phones into credit cards

CNET reports on a trial by Nokia and MasterCard of MasterCard’s new PayPass technology.

In the Irving, Texas, trial, which is scheduled to last six to eight months, consumers can wave their SmartCover Nokia phones in front of the reader instead using a card. Both PayPass cards and SmartCover phones come with hidden computer chips and radio frequency circuits, which transmit payment details through the air rather than via a magnetic stripe.

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