Jonathan Marek

Smartphones Look to Replace Plastic as Payment

August 3, 2010

FROM RETAILWIRE:
Okay, so the gas-powered car killed the horse and buggy as a mode of transportation (excluding the Amish). Video apparently killed the radio star. So what's next to go? According to a Bloomberg report, plastic credit and debit cards may be doomed by smartphones. Will smartphones replace plastic credit and debit cards in the U.S.?      [more...]

Bill Gates wrote about electronic wallets in "The Road Ahead." I think that was in 1995. Things change slowly. I suspect credit cards will be around for a long time, perhaps a very long time if the credit card companies can win the battle to put a standard electronic payment mechanism into the card itself.