KAYE: Your smart phone is now so clever it's actually paying your bills for you. Lauren Siegel from CNNMoney.com explains.</s>LAUREN SIEGEL, CNNMONEY.COM: Developers are coming up with different ways for consumers to use their phone as their wallet. Instead of something like this, we'd eventually be able to use this. Starbucks is one of the first companies trying out a mobile payment app. You can literally plug in your Starbucks card number into the mobile app, take it up front and scan your phone.</s>SIEGEL: So can I get an Americano with steamed skim milk and foam.</s>UNIDENTIFIED FEMALE: What size?</s>SIEGEL: Let's go with Venti. It's very easy. When I want to pay, all I have to do is touch this and then ready to scan. Right?</s>UNIDENTIFIED FEMALE: Yes. It's $3.43.</s>SIEGEL (voice-over): And they're not the only ones that will let you buy a mocha with your mobile. The next time you're with a friend, why not split the check via text messaging. They let you pay a friend back for coffee or a movie ticket by texting them money. You can link the app to a bank card for free. In addition they're working with smaller businesses so they can accept payments this way. There's another app called bump that allows people to bump their phones together to exchange money. Bump is now expanding its service for payments via PayPal. This is when the phone itself has technology integrated inside of it that allows us to trade information with another device up to four inches away. It is just starting to be rolled out in the U.S. with this technology but you're be able to pay for subways, fast food and other goods and services by holding your phone near the receiver. Whether you want to Bump it, beam it or text it, your cell phone is quickly becoming an alternative to your wallet. In New York, Lauren Siegel reporting.
New Mobile Phone App May Allow Owners to Pay For Goods and Services Directly