[kolya3]

Isn't this the original idea that got Paypal's founders their initial VC investment - transferring cash from one Palm Pilot to another? If memory serves me right they scrapped it early on because the tangential website transaction feature was becoming popular.

[mey]

http://en.wikipedia.org/wiki/Confinity

Palm Pilot IR transfer system.

[naz]

It could still work now that handhelds are more prevalent