Mobile Visa card launched.

A mobile Visa debit card has been launched by T-Weed. This follows the predicition by, chief executive of Visa Europe, Peter Ayliffe, that Paying for goods with notes and coins could be consigned to history within five years. Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash.

From the press release:

“T-Weed's Wireless Visa Card intends to give unbanked Americans, small business owners, immigrants, and families the freedom of a bank debit card that can be used in coordination with a current bank account, powered by employment direct deposits or deposits made at Money Gram or Safeway locations. New Wireless Visa customers do not need to have a previous bank account or credit history, only a cell phone and a US address.”