Citibank Introduces Cellular Credit Cards

In an attempt to make spending with your credit card even easier, a number of companies have banded together to work out a method for cell phone users to use their phones as a credit card. That’s right, your cell phone can actually work as your credit card

Apparently, Citibank and MasterCard are pairing up with Cingular and Nokia in order to create a cell phone that is credit card based. The new system will be tested in New York City in order to work out the bugs and to test the market demand.

As with any new technology, particularly when it comes to incorporating your credit card, I encourage the “stand back and wait” approach. These conveniences are usually great once the bugs have been worked out. Until then, they can be a nightmare. With the cell phone credit cards, for example, there have already been reports of security flaws. In addition, depending on how you have stored your cell phone, it is usually much easier for a pickpocket to walk off with your cell than with your credit card. After the glitches get worked out, though, this service may very well be the wave of the future.

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This entry was posted on Monday, December 25th, 2006 at 10:53 pm and is filed under Credit Card News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.