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Cash acceptor in each iPhone and iPad?

New Cupertino company’s patent claim states that currently there is being developed new system enabling arranging for payment straight by dint of the iPhone and iPad.

For this purpose there will be developed special applications for the device and certain service which will store users’ credit-card numbers and banking data in order to effect personal and corporate transactions by only several pressings. Payments can be fulfilled using the iPhone with NFC support or built-in camera together with image recognizer.

And what is more, one of the circuits presented the possibility of separate payment of joint accounts, for example, restaurant bills. Thus, a person gets a bill and enters it into his/her iPhone, then this person creates special local area network within which each friend using his/her smartphone can contribute desired sum for his/her part of the bill payment.

Generally speaking, it will be necessary to involve banks in this process, create supported by phone enterprises network accounts of which can be paid in such a way, i.e. there is a lot of work. The question is: “What for?” What is wrong with currently existing payment system?