Visa has already installed some contactless payment terminals in selected shops.
Contactless payment could mean mobiles phones can be used as a credit card next year.The near field communication (NFC) technology has already been installed in selected shops by Visa and the handheld gadgets could be the next step, the Herald Sun reports.
A store's Aussie credit terminal can take payments by reading a high-frequency signal around 10 cm from the phone taken from a chip.
Eric Schmidt, Google chief executive, noted one of the organisation's new phones - the Nexus S - will come with an NFC chip and the technology to use it.
He added: "You will be able to take these mobile devices that will be able to do commerce and, essentially, bump for everything and eventually replace credit cards."
This comes after Jennifer Doggett, a member of the Centre for Policy Development, writing for the Sydney Morning Herald, suggested the introduction of a medical credit card to pay for a variety of healthcare could be useful.
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