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Cell Phones Will Soon Replace Your Wallets
(15-05-2012)
 
 

Paying by credit and debit cards soon could be outdated. According to a report based on a survey, in coming years cell phones will take place of wallets in people’s bags and pockets. The main concern of the users about the service has been regarding the safety of their accounts and transactions, but the study shows that modern mobile users will be able to protect their accounts from being hacked. A lot of modern customers have already started paying their everyday bills using their mobile phones, and to everyone’s surprise they have found it much more convenient than the laptops and computers. When asked about the facility, most of the users said that it gives them much more freedom then computers and takes off the burden of sitting in front the computer to pay the bills. The study suggests that by the year 2020, most of the Americans will start using “smart device swiping” instead of cash and cards. Many modern buyers use their cell phones to buy books, renting movies and other such purposes, which establish the fact that the “smart device swiping” is inevitable. Having said that, the mobile payment technology is still in the initial state and hence there can be some loopholes that the hackers might use to cause frauds and scams, so if you are using mobile payment technology make sure that you have a security app installed. Hmmm… how good would that be to you? Tell us what you think…