The tradition of swapping paper business cards could be about to come to an end if one company has its way.

Called "my name is e", the new electronic business card allows you to create a business card with not only your relevant data on it, such as phone, email and address, but also your social networking account details like LinkedIn, Twitter, and Facebook so you can share them via your mobile phone or a small dongle called the "connector".

According to the company, you can create business, personal or multiple variations for different occasions and then share them with people you meet either via dedicated apps or via a website streamlined for your mobile phone.

"Just log in, select a card, and add your contact. It’s easy, and works between all phones", says the company. "E will share the selected cards and automatically friend each other on the social networks of your choice".

The Connector is a keyring sized dongle that works simply by touching it against another to transfer the online business card. It isn't as yet available however. It's also not clear whether or not you will be able to send data from a connector to a phone and vice versa.

As you would expect there is an iPhone app already available, and the company behind the idea says they are already planning a native apps for Android, Symbian, Windows Mobile and WebOS very soon.

Just don't tell Patrick Bateman.