Nokia and Visa Team on Mobile Credit Card System

Visa and Nokia are joining forces on the world's first mobile credit card pilot system, which lets consumers shop and pay using their mobile phones. The project will be given a four-month trial in Malaysia, where a 200-user group will be given Nokia's 3230 prototype to shop 2,500 stores nationwide that have compatible readers. According to Visa, if the trial is successful, the technology could be commercially available by early 2007.