"Whipping out your mobile phone to pay for a sandwich at lunchtime could soon become a reality. The global trade body for the mobile industry and a European monetary organisation have signed a pact to speed up the deployment of handset payment services in Europe.
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In Japan, mobile-phone based payments are already thriving. So much so that Japanese carrier KDDI and the Bank of Tokyo recently jointly created a bank specifically designed to create accounts for anyone using cashless-enabled mobile phones."
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