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Apparently Cingular is testing a new service that allows you to use your cell like a credit card.  I guess it sounds like a neat idea but I do have some concerns about security in case you misplace (or decide to change) your device.

Cingular will be testing this service for up to 6 months with Nokia and financial institutions like Citigroup and MasterCard Worldwide.  Two technologies, ”near-field communication” (NFC)  and the MasterCard PayPass, will be built-in so you will just have to “swipe” your device to make payment .

Marguerite Reardon from C/NET has a short article here

Jack Cook (2693 Posts) - Website | Twitter | Facebook