A tiny town in Sweden is on the cutting edge in the mobile commerce sector.
For nearly a year, shoppers in Visby, in the Swedish municipality of Gotland, have been able to walk into almost any of the locality's 60 or 70 shops and pay for goods without having to reach for a wallet or purse. Instead, a system called PayEx lets shoppers pay via their mobile phones.
Here's how it works: A retailer keys the amount to be paid into a PayEx point-of-sale device, which communicates with a server using a secure authentication service from the Swedish software developer Accumulate. The authentication service sends a message to shoppers' mobile phones, asking them to confirm the purchase. For small purchases under a few euros, shoppers press OK on their phones or swipe the phones over a terminal; for anything over a few euros, shoppers key in a PIN.
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