Soon, Your iPhone Could Be a Credit Card

Apple hires wireless payment expert to lead global commerce
By Nick McMaster,  Newser Staff
Posted Aug 16, 2010 6:22 PM CDT
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(Newser) – So we all know the iPhone can do pretty much everything (except sometimes make a phonecall), but Apple has in its sights the next way it can help you spend your money: Swiping the handset like a credit card. Apple has hired an expert in near-field communications, a relatively new technology used in train/subway stations that allows no-touch ticketing.

NFCs use short-wave radio signals to send data, and it's likely that expert Benjamin Vigier has been hired to make the rubber meet the road. What's exciting is that NFCs can reach much further than simple credit-card transactions: "The store could transmit ads to your phone, loyalty card points, free apps, games, the possibilities are literally endless," Kit Eaton writes for Fast Company.

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