Visa has started testing iPhone's Payment System. The system will be using technology called “Paywave” which basically allows you to wave your phone over devices to make payments.

Visa reps have said, “As part of a pilot program with the New York City subway, PATH rail system and NJ TRANSIT, commuters can use their Visa payWave enabled phones – including the iPhone – to make payments at the fare gate and on the bus by simply holding the phone in front of a contactless reader, which are also in the backseats of more than 10,000 New York City cabs.”


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