Visa is planning to unveil a new global payment system that will let you pay through your cell phone:
The new system, announced at the Consumer Electronics Show in Las Vegas, is aimed at Visa credit-card issuers and cellular phone service providers.
Visa says it believes the new product will help spur the development and delivery of the so-called electronic wallet.
"Visa has long realized the importance of the mobile channel to the future of payments and as a medium to deliver to consumers," Patrick Hauthier, Visa's senior vice-president of innovation, said in a written statement. The first stage of Visa's plan will let people make payments by passing their cellphones near a special reader.