As our society becomes more cashless, there is going to be a real need to transfer money between individuals without cash. For example, what if I have no cash (which I often do) but I go to a garage sale. There has to be a way to pay that person without actually having cash. I know I can use paypal, but that requires a web browser.

So, the details!

I actually have two deas on how to accomplish this: You could either:

1. Build an application into your cell phone or 2. Build a separate hardware device. Of course, the cell phone makes the most sense because I don't want to carry around a second device.

But either way you build it, I envision this:

A slide card reader built in so I simply slide my credit card (or debit) and enter in the amount and pin (if a debit). Then, the phone or device simply transmits the transaction like any other credit card reader would. Of course, the user would need to set up a credit card account to accept the payment. And maybe this could levarage paypal? You would simply create your paypal account, and then configure your phone or device to use that paypal account when someone slides their credit card into your phone.

There's another significantly less complicated route which involves a simple debit/credit and invoicing system. 

What say you, Ideastox? Is this a good idea? Please feel free to edit. And this is Art Ramos' idea, with a little tweaking by me. But, he gets the credit!

And if you're a mobile applications developer looking for an opportunity to work on a cross-continental system, you'll get the credit too!