Credit card functions in mobile phones - a dream come through?

In Malaysia, a company called Mobile Money International Sdn Bhd has developed a mobile or virtual credit card concept. With this "Consumers can make payments at the counter by giving to the merchant a number provided to them in their mobile phones.

“For remote payments, payment requests with details will be relayed to the consumer through the phone. A buyer merely has to reply with the PIN to make the payment,” according to their Managing Director.

Overall, a concept that many foresaw since the event of the Internet and the improvement if mobile phones. If it is possible will be seen, of course, but then, it is not a world's first. As far as I remember (but I might be wrong), a similar concept is in use in Japan, with DoCoMo.

(By Asia Business Consulting)