Is such an application of the technology possible?
Some mobile phones come with built-in RFID readers based on the Near Field Communication (NFC) standard, a type of RFID for consumer devices. Nokia's 6131 and 6212 Classic models both incorporate NFC technology. The 6216 Classic was the first mobile device to put the secure element of contactless payment technology on a SIM card, but I believe Nokia cancelled this phone in February.
In Hong Kong, Octopus offers Xpress-on covers for Nokia's 3310 and 3330 mobile phones, which can turn an ordinary phone into an NFC phone. And a Canadian firm, Wireless Dynamics, offers the iCarte 110, a NFC add-on for the iPhone. The iCarte attaches to the bottom of the iPhone, where it is charged, turning the phone into an NFC phone as well as an RFID reader/writer.
There will likely be many additional options as NFC gains more traction with consumers. But keep in mind that you can not read ultrahigh-frequency (UHF) tags, or RFID tags not based on the NFC specification.
—Mark Roberti, Editor, RFID Journal