Nokia Develops the Debit Card Cell Phone

Today, the credit card has become a necessary item. As recently as 20 years ago, the credit card was considered something new and risky. Cash was the only way to go. This was mostly because many businesses simply did not accept credit cards. Today, everything is different.

You almost have to have a credit card. We can now charge an item and have the money taken directly from our checking and savings accounts. Credit cards give us easy money at the drop of a hat. It is interesting to note that of all of the new technology, only the cell phone as grown as quickly as the credit card.

Every day, the use of the cell phone grows larger and larger, just like the credit card. It seems like everyone has a cell phone, from the businessman right down to the 3^rd grader with a pre-paid ‘mom phone.” It should not be surprises that someone has finally thought to put the cell phone and the credit card together. While some companies have attempted this before, Nokia is the first to initiate a plan.

They have partnered with several of large banks from Finland in order to test out the new product. If it works well and sees a lot of interest in Finland, the product may be imported to the US over the next few years. The new phone concept will be launched sometime in the next few months. Below is a basic breakdown of the credit card/cell phone combo.

Nokia’s latest phone will work much like a credit card. Technology will allow you to download cash right onto your phone. You can use it to buy movie tickets, train tickets or even pay for parking. You will just need to wave the handset near a reader. This unique phone uses “pay as you go” just like some of the bigger credit card companies.

For example, the phone was tested in Oula (a city in Finland) by senior citizens. They used the phone in order to purchase delivered meals by simply tapping the phone against the menu from which they want to order. This worked because the menu’s themselves where interactive (a technology that is sure to appear soon).

This new technology is an excellent concept. By combining the ease of credit cards with the popularity of the cell phone, the need for cash is being eliminated. As testing continues, it appears that the new concept phone will be a smashing success. We should see it here in the future!

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