The idea is beautiful in its simplicity. The case has a built-in fingerprint reader to protect your security and the kit comes with a credit card reader attachment. You use that to register your various credit cards and you use the iPhone’s camera to take pictures of all the barcodes for your loyalty cards. When you want to collect those points, you set the loyalty card and its barcode is displayed via the embedded e-ink display on the back.

When you want to pay for something, you choose the credit card via the app and the included universal credit card gets temporarily programmed to clone that card, both via the magnetic strip and the chip. You hand over the card and proceed with the transaction as normal. Yes, the Geode is a little bulkier than your typical iPhone case, but it’s a heck of a lot more functional too.

They’re expecting to starting shipping the Geode (which works with the iPhone 4 and 4S) in May or June with a retail price of $199, but if you give at least a $159 backing on the Kickstarter page, you’ll get a Geode for “free.”

[Source]

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Vivotech NFC payment platform for mobile phones Photo: Vivotech.com

We reported just 4 days ago that you will soon have a digital wallet in your pocket, and today, Visa and Bank of America have teamed up to create the “digital wallet.” The news came via Reuters when the companies said they will run a trial service in New York for the duration of 2010, aiming to get the technology in our digital wallet as soon as possible.

Other companies in talks are Verizon Wireless, AT&T, T-Mobile USA and Discover Financial Services, they intend to offer mobile payments as well, just how they will go about it is still up in the air.

Bank of America launched mobile banking just 3 years ago, and since then has seen 5 million customers conduct $15 billion in transactions, all from their phones.

Mobile payments are going to get hot in Japan and South Korea too, where KDDI and SoftBank Mobile have announced plans to release Near Field Communications technology through the countries.

Soon my friends, that ringing talking box you’re holding will also pay for your movie ticket, sandwich at the cafe, or coffee at Second Cup.

BofA and Visa to test cell phone payments [Reuters]

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