Motorola Launched M-Wallet, Mobile Pay System

Some non-iRadio MOTO news: Motorola announced M-Wallet yesterday, an application that will allow users to make purchases and manage financial accounts with their mobile phones.  From the overly technical M-Wallet press release:

The solution consists of two components: first, M-Wallet is the application that consumers and merchants download from the Internet; second, the Wallet Service Center allows the operator to manage administration, registration, issuance of credit and debit cards, coupons, archiving, customer profiles and maintenance.

CNET discusses scanning options:

The M-Wallet service initially will allow cell phone users to do banking chores and to pay bills at participating retailers. A new chip that's six to nine months from release will let people use their handset to pay for items anywhere a scanner is used--provided the scanner has been upgraded.

An interesting option, that will probably cost more in 'minutes' or subscription fees...  Still quite cool, though.

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