I admit it; I've been put off by the term "contactless payments." But it's an emerging area that deserves some attention.
If you are in Asia, you know what I'm talking about. People there have been making payments with their mobile phones using what's called "near-field communications." Just wave the handset in front of a reader and voila, the transaction is done.
In the U.S., we've had RFID technology embedded in cards. But the long-term goal is to eliminate the need to carry credit cards, building access badges and transit … Read more