New Apple service will let you use your iPhone like a credit card

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iPhone with credit card app

Apple's newest edition to the things-I-didn't-realize-I-couldn't-live-without department is actually something totally awesome and useful. And potentially dangerous, as I will obviously be spending boatloads more money now. Apple is planning to introduce a service that would allow iPad and iPhone users to use their computers as virtual credit cards. This genius is made possible by Near Field Communication which will be applied to the iPad 2 and the long-awaited Verizon iPhone. Near Field Communication will save bank-account information, iTunes information, and credit-card numbers. 

Lest you were feeling misty-eyed about Apple's selfless dedication to making our lives easier, hear this: they'll get their cut too. A large part of this incentive is to cut down on the processing fees Apple has to pay to credit card companies every time a user purchases something through Apple. This Near Field Communication makes it possible for advertisements to be tailored to specific Apple users, depending on their past purchases.

Again, Apple isn't advertising the latest Judd Apatow movie to you just out of the goodness of Apple's heart; with these personalized advertisements Apple will be able to charge the companies selling their products up to triple the normal rate.