Run out of cash? Pay with your cellphone

Forgotten your wallet? Find yourself short on cash? Well, why not use your phone to pay for that latte? Folks in the U.K. will soon be using their cellphones to pay for a wide range of stuff, thanks to a partnership between Barclaycard and cellphone operator Orange. The cellphone payment system is designed to replace cash rather than credit cards and will be used for making payments less than $14 in value.

The system will use a contactless card format based on Near Field Communication, a short-range wireless technology. It means users can simply wave their cellphone a few inches away from a special reader when making a purchase — no more fumbling with PIN codes or signing payment slips.

Barclaycard also operates in the U.S., Europe and Far East, so we could see the credit-card giant forging alliances with providers there.

Via Orange