Visa, Nokia turn mobile phones into mobile wallets
Tuesday, January 9, 2007; 2:37 PM
LAS VEGAS (Reuters) - Visa, the world's biggest credit card payment system, has launched a global system to turn mobile phones into wallets for millions of customers in a deal with the world's top handset producer, Nokia <NOK1V.HE>.
Users can pay for groceries and other purchases by swiping a phone over a reader that electronically communicates with a microchip on the phone. Phone owners confirm the purchase with the push of a button and the deal is complete.