Mobile phone wallet of the future?

Interesting article from CNN:
Wallet of the future? Your mobile phone
-Analysts say mobile phones in U.S. may act like wallets in 5 years
-Phones in Asian countries are scanned to make payments and serve as ID
-Idea has been tested here for a decade but never adopted
-Technology could cause privacy, security and logistical concerns

Some analysts say that within five years, mobile phones in the United States will be able to make electronic payments, open doors, access subways, clip coupons and possibly act as another form of identification.

These futuristic uses for phones are becoming reality in countries like South Korea and Japan, which typically are ahead of the United States when it comes to mobile technology

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