All it needs is Nokia (for example) to add Near-Field-Communication (transaction capabilities) and woooosh, we’ve got a whole new ball game.
A new analysis of the NFC mobile payments opportunity forecasts that 700m mobile subscribers globally will have phones equipped with NFC contactless technology by 2013. NFC will enable users to make payments with their mobile phones for relatively low value purchases (such as refreshments, tickets and food).
There’s going to be a whole lot of money to be made in this area, if it’s done correctly. You can check out the full NFC report from Juniper via their site.