Mobile Phones to Make Credit Cards Obsolete In Korea

People have been talking about using mobile phones for transactions for a while now, but it seems that it may be showing up in Korea in the near future. The Cabinet there has passed a bill that will let the various carriers there start offering financial services, and the carriers are practically pushing over each other to take away transactions from banks and credit card companies in Korea. Could be a very interesting model to watch, to see if it can translate into other countries as well.