With Cardless Swipe You Use Your Smartphone Instead of Credit Cards

 - Aug 4, 2010
References: bloomberg & mashable
Wireless companies Verizon, AT&T, and T-Mobile are partnering with the makers of Discover Card and Barclay's PLC, a global retail banking company, to test a new cardless swipe technology, allowing consumers to pay for products simply by swiping their smartphones.

The benefits of cardless swipe are obvious: there's no risk of losing credit cards and there's less risk of your personal info being stolen by tampered scanners. The benefits aren't restricted to consumers either, as the card companies won't have millions of plastic cards in wallets to deal with, thanks to cardless swipe.