A group of handset manufacturers has agreed to embed near-field communications chips into mobile phones, turning them into mobile wallets. The phones will then be able to make contactless payments, with the bill charged to subscribers’ MasterCard accounts. The program, initiated by the GSM Association, is called Pay-Buy Mobile. Some of the companies include wireless network operators Cingular and BellSouth in the U.S., as well as handset manufacturers Samsung, LG and Nokia. The network operators and device makers have all agreed on a standard set of chips and software from NXP and Sony. The solution will use the combination of NFC with a SIM/Universal Integrated Circuit Card to protect user financial data, and some transactions will require PIN codes to be entered. The program will launch in October.