This is a very good reason NOT to lose your cellphone. Several of the companies have developed small credit card scanners that plug into a cellphone and for a small fee enable any individual or small business to turn a phone into a credit card processing terminal. PayPal’s cellphone app calls for only a simple bump of two cellphones to transfer money. Apple has submitted a patent application for a cellphone payment system.
Now if only I can receive money the same way, wouldn’t it be great? hmmm…..