What are the risks for consumers and retailers? What are some ways that these risks could be overcome?

In a country where cash is king and almost everyone owns a cell phone, Japan's NTT Decomo led a major drive into mobile payments and m-commerce. The mobile phone carrier pioneered the use of near field communication (NFC) chips inside its cell phones, enabling them to exchange data wirelessly over a few centimeters. Subscribers to Docomo's wireless network can pay for their cappuccinos at participating stores by tapping their cell phone against a special terminal or just waving it nearby.