Appearently loomis and DasUser didn't read the article very well, same with quite a few other posters here. The cellphone carries aren't taking care of the billing or processing of accounts so nothing will be charged to your cell bill, only to the account that is linked to the chip inside the phone. ATT, Verizon and T-mobile are just partnering up to form a company that will enable the technology. People really need to read before posting comments.
The drawback to this kind of thing is that cellphone theft is high enough now, just wait it'll get worse. However I'm not too worried since I've never lost a cell phone or my wallet, I have broken a few phones though.