Will That Be Cash, Credit, Or Cell?

By Roger O. Crockett, Business Week

For years, techies and wireless phone companies have coveted a dream: turning the ubiquitous cell phone into a virtual wallet. In the late 1990s everyone from Nokia Corp. to Visa was plotting to roll out services in the U.S. that would let people use their cell phones to buy everything from soft drinks to cars. Startups such as 724 Solutions Inc. teamed with banks to let people check balances and transfer funds from a phone. But pokey technology and tepid demand snuffed out the market.

Now, so-called mobile commerce seems poised to make a lasting comeback. Services are already up and running in Japan, South Korea, Germany, and elsewhere. And starting next year, a wave of new services is expected to roll out in the U.S. — some could be launched by wireless carriers, such as Sprint Corp., some by small technology outfits working with the phone companies and banks.

For this complete story, please visit Will That Be Cash, Credit, Or Cell?