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Now use your iPhone as credit card

tech reviews Updated: Aug 18, 2010 17:26 IST

Carrying a credit card in your wallet can soon be a history. Apple is coming up with a technology that will enable the use of iPhone as credit card.

Mophie, a popular retailer of Apple iPhone and iPod accessories, is set to debut their iPhone credit card reader — said to be named “Credit Card (credit card) reader” — and complimentary processing application, reports Mashable.com.

This will allow merchants to accept credit card payments by swiping the card through a special iPhone case. While details around the device add-on are slim, interest is already high.

iphoneThe buzz building around Mophie, the palpable excitement and interest stimulated by Square, and an increasingly competitive mobile payment system market means that 2010 will be the year that consumers will buy and sell from their mobile phones.

If you purchased anything at Apple retail stores this holiday season, then you were probably rung up by an employee using Apple’s new custom-designed iPod Touch with a black shell serving as a credit card reader.