Now Make Mobile payments Via iPhone

Visa and DeviceFidelity has teamed up to facilitate mobile payment through Apple iPhone.

To release a payment iPhone users will be required to wave an iphone infront of the contact-less pay system, called Visa Paywave.
Visa mobile payments can be done at contact lens supporting terminals, found in places like taxis, restaurants, stadiums and retail stores.

Companies behind this are trying their best to protect the application against any fradulance. To defray security concerns, an unspecified form of password protection is being put in effect.

Trials of wireless payments are slated to start this summer, with the iphones 3G and 3GS.
The technology will also work with a majority of smart phones that have a slot for a memory card.