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Video Blog: Why Doesn't the US Have Any Mobile Wallets?

November 28, 2009
While the technology is readily available in the U.S., it will be some time before Americans can use their cellphones as mobile wallets.

Imagine being able to use your mobile phone to pay taxi and mass transit fare; use vending machines; make retail purchases; and check in at hotels. Every day, millions of citizens in Japan, S. Korea, and soon Singapore do so simply by waving their mobile phones in front of point-of-sale terminals using near-field communication or related technology. But, while the technology is readily available in the U.S., it will be some time before Americans can use their cellphones as mobile wallets.