How About That Mobile Payment Revolution?

"Richard Doherty, director of consulting firm Envisioneering Group, believes that the next versions of the iPhone and iPad will include support for near-field communications (NFC). Doherty, citing Apple engineers who are working on the designs, says NFC will be in Apple products released this year."

"NFC mobile payments are made by adding a small short-range wireless radio to cell phones that can be scanned by a retailer at the point of sale. Once scanned, the chip tells the phone to debit money from a checking or credit card account paired with the device and send it to the retailer."