This is definitley some impressive news. With the new PayPass scanning system, payments via smartphones are not too far off in the distance. Tyfone has released a a microSD card that acts as a swift card payment. When paying, just swipe the phone containing the microSD across the PayPass system, and almost instantly the payment is processed. Since we carry our BlackBerry's around with us everywhere anyway, this just makes it that much more convenient for us.

Here is a video showing exactly how simple the process is:


If this news wasn't exciting enough, its expected to start being used in the second half of 2010! So, is this a right move for the future payment systems or is this a bit risky for example if your phone get's stolen? Let us know!