iPhone with NFC

The New York Times:

According to two people with knowledge of the inner workings of a coming iteration of the Apple iPhone — although not necessarily the next one — a chip made by Qualcomm for the phone’s processor will also include near-field communication technology, known as N.F.C. This technology enables short-range wireless communications between the phone and an N.F.C reader, and can be used to make mobile payments. It is unclear which version of an iPhone this technology would be built into.

One person familiar with the new Apple feature said the phone’s credit card information would be tied to information currently used on iTunes, which would make it simple for customers to set up the new mobile payment method on the iPhone.

This will be most convenient but the thought of losing my iPhone…