Without conducting any survey one can easily predict that the ubiquitous mobile phone would be the most prioritized among things one cannot live without. In the late 1990s when mobile phones were launched, no one would have ever remotely even imagined, these amazing devices would one day become the greatest invention of all time in the field of communication, information, and the endless list of other applications. Mobiles are adding on new characteristics, to its initial communication image, on a regular basis. Lately, it has enabled another feature by filling in the shoes of credit cards.