The present invention is to provide a method and an apparatus for integrating a mobile phone with a contactless IC card, wherein various data are preinstalled in the mobile phone for conducting different business transactions for a user simply by using a man-machine interface of the mobile phone to control each business transaction record processed through the contactless IC card, and the contactless IC card includes a memory device of the mobile phone for storing information and carrying out the all-in-one functions, enabling the mobile phone to perform a high-speed data transmission between a RF interface of the contactless IC card and a card reader so as to effectively increase the transmission power and distance for the contactless IC card.