Finally, the technology is at hand to turn phones into virtual wallets For years, techies and wireless phone companies have coveted a dream: turning the ubiquitous cell phone into a virtual wallet. In the late 1990s everyone from Nokia Corp. to Visa was plotting to roll out services in the U.S. that would let people use their cell phones to buy everything from soft drinks to cars. Startups such as 724 Solutions Inc. teamed with banks to let people check balances and transfer funds from a phone. But pokey technology and tepid demand snuffed out the market.
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