Visa and DeviceFidelity, have teamed up to create the In2Pay system for the 3G and 3GS iPhone. The system uses a microSD in a specially designed, protective iPhone case that adds mobile contactless payments anywhere that Visa's payWave is available. It will also allow secure access to buildings and computer networks.
Trials are scheduled to start during the second quarter of 2010.
Apparently the case connects with the iPhone through the 30 pin connector, as the case is designed to stay attached, even providing a micro USB slot to sync and charge it.
Transactions will be done via an App. DeviceFidelity says the microSD can be issued and personalized like traditional smart cards or in the future through a secure download via a mobile network.
There are already naysayers out there, but the truth is this is the future.
Japan has been doing this for sometime, there are reports going back over size years. SIX YEARS! That's how far behind we are. In Japan they can use phones as debit or credit cards. They can be swiped through most checkout lines, even some vending machines, concierge kiosks and used for buying train tickets.
There will be bumps along the way, surely, but this is coming.