Visa Jumps on the Smartphone Payment Bandwagon

By Sajid Farooq
|  Tuesday, Dec 14, 2010  |  Updated 2:45 PM PDT
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Visa Jumps on the Smartphone Payment Bandwagon

AP

Next time, just use your iPhone to pay for your iPhone.

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The credit card companies were suppose to be the big losers when and if the world ever switched to buying things with the wave of our cell phone.

But now one of the biggest credit card companies around is investing in technology to make using our smartphones as currency a reality.

San Francisco-based Visa conducted an 18 month trial with DeviceFidelity to embed a data card onto iPhones, Android phones and Blackberrys for touchless payments.

Visa is not alone in its exploration of the technology. Banks, such as Wells Fargo, are also jumping on board.

The San Francisco-based banker is conducting a pilot study to see how well the technology works.

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