Nokia, Cingular, Citibank and Mastercard have all gathered around in a festive orgy to begin offering a trial pay-by-phone service in the NYC area. The cellphones will use the NFC (near field communications) credit card/cellphones and the already in-place Mastercard PayPass system. Folks will be able to walk up to a PayPass device, tap the phone and automatically be deducted the amount for whatever is purchased.
Worried about hackers? You should be. This doesn't sound safe at all. If you are already a Cingular subscriber and Citibank account holder you can sign up for the trial service here.