When will credit cards morph into mobile payment devices?

Here is a thought. Why should credit cards and mobile payment devices be different? A credit card is something that I typically carry with me to make payments, at the same time, a mobile phone is a device that I carry with me to (amongst others) make payments. Surely it makes sense to envisage a situation where credit cards and a mobile payment device are merged so as to be one device. In other words, the thing that I swipe at the merchant outlet, is the same thing that I do my mobile payments on.

This is not so far-fetched. A number of recent inventions seem to indicate that this is a very likely scenario. It will just be a matter of time before the card that I swipe and the device that use to do remote payments will be exactly the same. Two examples can be made and is a case in point:

• Visa CodeSecure is a device that was recently launched (Read here and here). This is a fully functional credit card (magstripe and everything), but with a keypad and a display. This credit card can be used to generate secure one time passwords (OTP). (See the picture)
  
• It is possible to buy a phone from a company called Real Card Phone that can fit in your wallet. This fully functional dual-band phone comes with voice recognition and text message capabilities. The phone is as big as a credit card (although it is a little bit thicker). (Read here)

I believe that it would make a lot of sense to get a credit card from my bank that is able to do everything that a credit card can, but that (in addition), the credit card can also be on-line and accessible by my bank. In this way, it would be possible to do remote card transactions with "the card present", develop new security enhancing abilities or even disable the card remotely. I think that this will be a major step forward.