London begins trials of payments via NFC equipped mobile phones

NFC is already a success in London with the Oyster card, now the city wants to expand the use of this technology by embedding it into mobile phones. Initial trials of the technology will happen thanks to Barclaycard in partnership with Nokia (NYSE: NOK) who is said to be providing several hundred handsets.

Richard Humbach, manager of mobile payment systems at Nokia, thinks that payments via a mobile phone will be mainstream by early next decade.

[Via: Textually and The Observer]

Richard recently gave a presentation (PDF) and was interviewed in a podcast (MP3) at the Nokia “The Way we live next” conference about NFC technology.