Paygate London: Cellphones are the new currency
November 26, 2007 by Jayvee Fernandez
Filed under Cell phone, Handy Peripherals, Mobile 2.0, Nokia, Phones, Phones, Phones, Shopping Guide, Special Features, The Unwired Life, Unwired Oddities
So what’s your take on the latest development of the London currency being dispensed by mobile phones?
“Early next year Barclaycard will run a trial of the technology on the back of its new ‘OnePulse’ contactless card, which was launched in September. OnePulse cards are combined credit cards and Oyster cards, and also allow small purchases (under £10) to be made without entering a Pin.
About 1,000 retailers in the capital are already equipped with the contactless terminals for OnePulse, so putting the technology into mobile phones will not require them to install yet more expensive kit. Several hundred Barclaycard customers will be issued with compatible phones supplied by Nokia, which has been pushing the technology for several years. [Textually]
Honestly, I feel that this is a neat concept that is highly dependent on the culture of the society. For instance, although online purchases are quite common nowadays, there is a certain charm to lining up for Black Friday sales. Nonetheless, the adoption of mobile phones as pay methods is not new. However, there has to be a mindset change on the fact that if you lose, your cellphone, you lose more than your address book. Risky, ain’t it?
