Since the advent of the first cellular phone, the mobile communications industry has gone through a continuous technological and functional evolution. With each phase of advancement, we have redefined how, where, and when we choose to interact. Once considered a tool primarily for businesses and personal emergencies, cell phones have become our electronic companions as we socialize, entertain ourselves, and visually capture moments in our lives.

Over the past several years, we have witnessed the morphing of the cell phone as new functions have enabled this indispensable tool to be used as a digital camera, 3-D gaming device, MP3 player, and Global Positioning System terminal. And with faster wireless networks, e-mail and Web access through cell phones have become ubiquitous.

So, what’s next? Well, look no further than what you carry in your pockets. When leaving their homes, most people take three items: their cell phone, keys, and money. Has technology advanced to the point where these items can be combined into one? The simplest answer is, yes.

In addition to convenient, easy-to-use technology, speed and accuracy are equally essential for consumer acceptance of any new functionality. Two emerging technologies that will bring the electronic wallet (eWallet), mobile commerce, and keyless entry into the mainstream are near-field communications (NFC) and biometrics.

NFC is a short-range wireless technology that uses a small transmitter built into devices such as cell phones. By waving your phone near an NFC reader at a local retailer, you can easily pay for goods and services. The charge is billed to your cell phone account or credit card.

This payment method has already been successfully deployed in Japan and South Korea. Japan has taken a leadership position with NTT DoCoMo, a mobile communications company, promoting the FeliCa technology-based service at convenience stores, train stations, and elsewhere. In the United States, Mobil has incorporated NFC technology into its Speedpass payment system at Mobil and Exxon gas stations.

Biometrics plays an important role in providing secure transactions through buyer authorization. A fingerprint scanner on the exterior of a cell phone can be used to provide your “signature authorization” during purchases as you wave your phone near an NFC reader. Certainly, this process is much faster and more secure than obtaining a written signature.

In addition to eWallet point-of-sale transactions, fingerprint authorization improves cell phone security for Web-based purchases. Today, transactions are authorized with a personal identification number, but sellers cannot verify who is entering the code. Thus, a buyer can always refute an invoice. With fingerprint authorization, potential fraud is virtually eliminated as there is no longer any debate over who approved a purchase.

As consumers become comfortable with the notion of using cell phones for secure financial transactions, they will also be open to the idea of using these devices to replace their house or car keys, since NFC readers and fingerprint authorization can also be built into door locks. Although this technology already exists, it may take some time for consumers to change old habits and put away their jingling key chains.

Much of my interest in mobile communications stems from my days as an NYIT electrical engineering student in the 1980s. I was always fascinated by advancements in computer technology, and while I was earning my degree, I took classes that incorporated communications technology, digital control systems, and robotics. Brainstorming sessions with professors and classmates about how technology can transform society became the launching point of my career. In short, my NYIT education laid the foundation and provided the skills I needed to dream about the future and then make it happen.

For that, I am forever grateful.