Next time if you would like to pay for your coffee or for your cab you would not need to worry as MobiWallet would be with you. Jton Systems is coming up with MobiWallet which would be combining mobile phone SIM cards with refillable RFID debit payment system for taking care of your expenses.

This is how it works. You decide on the minimum balance that you would like to keep on the card and top it up when the balance drops below the minimum. No need to worry about this as the phone on a periodic basis compares the RFID balance against the minimum amount and ensures that you never fall short of money.

The information is stored by RFID and it comes into picture when a payment interface is encountered, the amount of money is debited from the balance and the changes are communicated to the MobiWallet server. This is certainly for people like me who hate carrying cash or cards but its adoption may face problem as still there is no infrastructure for RFID transaction systems and carriers often tend to avoid offering things which might be useful to their customers.

Thnx Jake