John Dvorak is actually right about something

[Darren Dirt]

phone/cell companies handling financial transactions = BAD IDEA (jeans)
http://www.pcmag.com/article2/0,2817,2376702,00.asp

[Lazybones]

Looking at the Rogers / CIBC announcement I suspect there will be no such thing.. the technology at most will be a replacement for things like pay pass, IE at MOST the phone companies will be card issuers, not handling anything to do with transactions, unless they go with the model of adding it to you phone bill.