Bling Nation the company that lets you purchase real items in stores by letting you pay via your cell phones has raised $8 Million in a new round. The round came from Lightspeed Venture Partners and Camp Ventures. The payment model works by using an RFID tags attached to their cell phones and is activated much like you activate an ATM. The readers for these tags are also provided to the merchants and once the devices are activated the user can confirm the purchase. With that done an SMS is sent as confirmation and a receipt for your purchase. The idea is pretty nice and takes the burden off the ever problematic credit card system.
