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Nokia turns phones into credit cards
Posted: 14-May-2003 [Source: CNet]

[Irving, Texas serving as test grounds for Nokia and MasterCard trial. Phones are equipped with "PayPass" allowing customers wave their phones instead of swipe their credit cards.]

by Alorie Gilbert -- Nokia is distributing 500 new phones equipped with the special payment technology as well as 1,500 free phone covers that can snap onto current models in Irving, Texas, a suburb of Dallas and the home of Nokia's U.S. headquarters.

The phones are equipped with MasterCard's new "PayPass" payment technology that lets consumers wave by or tap MasterCard credit card-connected devices on a reader to charge their accounts, rather than swiping cards through the retailer's magnetic stripe reader.

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