It also has all the necessary communication capabilities: long-distance communication and complete internet access for e-banking and payment authorisation connection to banks' payment accounts and short distance communication for terminal and phone-to-phone connections The user interface is familiar to everyone with a colour screen; it has a secure keyboard for PIN and other payment input and it has sufficient processing power including encryption and other security processing.
The SIM (Subscriber Identity Module) card used in the GSM mobile phones could be re-used for payment security solutions as it follows the security norms for the chips used in modern payment cards. The mobile phone could easily store the card data of all personal cards in the same way that it stores connection information for all friends and business partners.