Translation: pay with cell phones, instead of credit cardshttp://www.businessweek.com/news/2010-08-06/at-t-verizon-may-pick-texas-utah-for-mercury-test.html
I heard this on bloomberg radio
this morning and searched for a link (there are quite a few; "yahoo search: barclays, t mobile, discover")
Aug. 6 (Bloomberg) -- AT&T Inc. and Verizon Wireless, the two biggest U.S. mobile carriers, picked cities in Texas, Minnesota and Utah to test a smartphone payments system that may one day supplant plastic debit and credit cards, according to two people with direct knowledge of the plan.
A consumer participating in the pilot would be able to pay a merchant with the contactless wave of a smartphone equipped with a radio microchip that communicates with a reader at checkout. The technology may allow people to forgo plastic cards and enable retailers to send consumers electronic receipts and rewards in real-time.