Wallet phone from Japan
Wallet phone is a new innovation from Japan. The technology relies on FeliCa, a tiny computer chip which communicates with a reader-device at stores, train stations and vending machines for cashless payments. FeliCa was developed by a big company, Sony Corp.
Wallet phones have been available since 2004 in Japan, but it had compatibility problems with other global standards. Now, the new third-generation technology allows new product to be used globally.