Soon it will be possible to pay for things with your cell phone as if it were a credit card.
In a recent pilot project, MasterCard Canada has teamed up with BlackBerry and BMO to adapt PayPass technology (already built into the newest MasterCards) to their Blackberries. This would allow a shopper to simply tap their enabled phone against a sensor to make a purchase.
Meanwhile, back in June, Visa partnered with Royal Bank and Rogers to test a mobile pay system in Toronto, using Visa's payWave technology. Unlike the PayPass system tap, the Visa method involves waving an enabled cellphone in front of a sensor. The cellphone is enabled after an application is downloaded.