The idea of using your cell phone as a credit card at a cash register to pay for a burger and fries or a new winter coat is still largely a futuristic notion in the U.S. and Europe. Yet parts of Asia are making serious strides toward mobile finance as a fully functional reality. In Japan, telecom NTT DoCoMo and financial firms Nippon Shinpan and Visa International are rolling out the second test phase of an infrared-enabled payment system, which will include 1,000 merchants and 10,000 consumers. Peddlers of the technology have gained an even greater foothold in South Korea, a...
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