Indian RFID Phones Will Include both Debit and Credit Cards

Filed in archive Near Field Communication on January 19, 2007

It seems the days of your credit and debit cards are numbered. In the future instead of a wallet loaded with cards you will be just carrying your cell phone along for making payments for your shopping.

In Japan NTT DoCoMo has already tasted success with its wireless credit cards and taking inspiration from this some of the leading Indian telecom companies such as Airtel, Reliance and Hutch are planning to offer cell phones fitted with a credit card chip. All this will be possible due to RFID and now the phones of Indians would act as both debit and credit cards and while making payments, instead of your cards the cell phone you are carrying would be swiped through a NFC terminal. The statement of your transactions would come along with your phone bill.

Credit card companies will have a lot to gain as this country has more than one hundred and forty million cell phone customers but only fifty four million debit and credit card holders. This presents an opportunity for card companies to increase their business among people who fear cards and for the RFID industry to gain more acceptance among the masses.

RFID is out there to make our lives simpler. Now no need to worry about losing the various cards you keep in your wallet as RFID will reduce the amount of plastic in your life but keep one thing in mind- you will have to be extra careful about your phone.