With the development of the near field communications (NFC), an RFID technology, the future is where the mobile handsets can act as your wallet to pay “virtual cash” to get number of services from suppliers.

The article spells out that with the technology of mobile wallet, mcommerce can change the way we purchase items, unlike now that we use cash to pay for items.

The author used examples such as the company AT&T which worked with the banks to come up with mobile handsets to provide banking services. The author also explained how the NFC technology works in mobile payment.

We shall see the technology works wonder in the future, however, whether it will be widely used, depends on the people who is willing to give it a try.

[Source: TelephoneOnline, September 2008, by Sarah Reedy http://telephonyonline.com/wireless/news/telecom_whats_mobile_wallet/]