Cell Phone Credit Cards: The Next Big Thing?

From I4U News -

According to the New York Times a company named Boku have turned phones into credit cards by allowing users to charge online purchases straight to their cell bill. Unfortunately, the carrier eats up 50% of the cost, while Boku takes another 5-10%. That's a whopping 60% of the price, leaving little profit for the merchant.

Another company, Obopay, have developed services that let people send money via text messages to other people. A lot of different companies are working on other ways to make mobile shopping easier, especially since more and more consumers start to use their smartphones as their primary Internet devices. However, the revenue sharing scheme has to be worked out first.