January 19th, 2011
11:45 AM ET
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Welcome to the dawn of mobile currency.

For years, tech companies have demoed flashy prototypes of systems that let customers use their mobile phones in place of cash or credit cards. This year, those systems are heading out of the labs and into the real world.

"There's a lot of money at stake if it's done right," says Omar Green, director of strategic mobile initiatives at Intuit (INTU).

Starting Wednesday at Starbucks (SBUX, Fortune 500) stores throughout the U.S., the cashier can now scan your phone to deduct payment for your latté from the balance on your pre-loaded Starbucks card. Splitting the dinner bill with a friend? Download Bump, and you can beam over the cash from your PayPal account.

Read the rest of "Your mobile phone is becoming your wallet" on CNNMoney.

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Filed under: Business and Farming News • Coffee • News • Sip • Technology


soundoff (2 Responses)
  1. Eleanor

    I hope that I can still use the cards as an option because I do not own a cell phone except a Tracfone that I use when I travel. I live in a rural area with very poor connections and can't use it very much. Also those high-tech phones are very expensive to keep and I am on a small income. Please tell me that I can still use my debit/credit cards in the future. Otherwise I will have to go cash and carry. I am pretty sure that others will face the same problem.

    January 29, 2011 at 3:27 pm | Reply
  2. Evil Grin

    This is great... until you leave you phone on the bus and someone takes it and empties your paypal account. Or you drop it in the toilet.

    January 19, 2011 at 11:52 am | Reply

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