Banks and mobile network operators are working towards a time when people will purchase pints of milk, Sunday newspapers and even train tickets with a ‘wave’ of a mobile phone. This is the future of a cashless society envisaged by mobile operators and industry pundits. "Today you pay for things by cash or on your credit card. Tomorrow, you’ll use your mobile to buy the things youwant," says Tom Alexander, CEO of Orange UK. Some forms of mobile payments already exist. Phone applications like PayPal Mobile support person-to-person (P2P) payments. SMS-based transactions are used for car parking tickets and mobile commerce allows online shopping through mobile phone browsers.

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