RFINITY - 'Cell phones will replace credit cards'

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Story Published: Jan 26, 2010 at 5:51 PM MDT

Story Updated: Jan 27, 2010 at 1:00 PM MDT

By Steven Pope

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REXBURG - A technology developed at the INL is making it possible to securely swipe your cell phone just like a credit card.

RFINITY uses radio frequencies to transfer data, making for a quicker transaction. Consider this, if you use a check the average time it will take you from opening the check book to walking away is 28 seconds. A credit card, 16 seconds. RFINITY claims their cell phone swipe takes only 8 seconds.

"This is a very cool thing. Because everybody is complaining about carrying credit cards and their wallet gets too big. We have to pull these cards out and use them for the transaction. We can put all that in the phone and do it in a secure manner," said Steven McCown, Chief Technology Officer at RFINITY.
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"Everyone carries a cell phone, virtually everyone. As people carry the cell phones, it's an easy convenient way to make transactions. Whether it's a purchase, or to identify yourself in a secure manner," said Wally McPheters, RFINITY Product Manager.

Imagine how quicker your airport line might be if all you had to do was swipe your cell phone as part of your identification. That's now possible with this new technology.

"This is the revolutionary step. So you can use your phone with existing contactless terminals that are already deployed, rather than deploying a whole new technology," said McCown.

"Currently with RFINITY's pilot were allowing them to use the University store to pilot their technology. In the first pilot there were 100 students involved," said BYU-I Relations Andy Cargal.

And while only 100 people have got their hands on this by now, the payment industry predicts this new technology will be in everyday use by 2014.

A second pilot program is planned at BYU-Idaho and in the next four months RFINITY hopes to have many Rexburg businesses on board.

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