Will That Be Credit, Debit, or Cellphone?

Shoppers in the not-too-distant future may have a new option when they get to the checkout line: their cell phones. Many retailers are warming up to the idea of consumers using "contactless" payment methods—cellphones or cards with a built-in wireless chips that can process transactions with a simple tap, the San Jose Mercury News reports.

Some 300,000 no-longer-cash registers can already handle contactless payments. Retailers, though eager for speedier transactions, have not yet figured out how—or how soon—they'll collaborate with banks and wireless providers. Still, one start-up founder says, "The iPhone has shown that if it's compelling enough everyone will play ball." (More retail stories.)