Visa is paving the way for iPhone owners to be able to make payments with their handset at special terminals. This wireless credit card payment system is the first of its kind in the world. It will involve a customized payment software called Visa payWave, which will come pre-installed on a memory card.
The iPhone itself lacks an external memory slot, so it will require you to buy a new iPhone case that is Apple-certified. This makes everyone richer, including the case manufacturer. Everyone except for you. Your money will be leaving with the case and with every transaction.