The era is nearly upon us where here in the UK, we will be able to pay for goods using our mobile phone! The technology has already hit america and is proving to be a success - the technology used is the same as the Barclay's pass card, where you can pay just by swiping your card.
The proposal is that the your mobile phone will have the details of your bank card(s), which to access you need to type in your pin code, then you swipe your mobile across a machine (similar to that of an oyster), which then deducts money from your account... crazy eh?
At first this screams SECURITY ISSUES! and WHAT IF I LOSE MY PHONE? - all very good questions. The security however, will not be any different from internet banking/shopping as you still need to enter your pin code to access it. However, if you lose your phone, well you better hope you have your bank card on you (thus slightly defeating the point of it in the first place). however, people are convinced this will revolutionise how we use our phones and access our money - digitalisation as we know it - no need for individual tangible items, you can have it all on your one phone!
It will be interesting to see how this takes off in the UK as English culture is quite different to that of the US and not as open to everything (especially outside of London). It has sparked questions in my mind, would I use it? - Probably, if everyone else used it and it seemed to enhance my lifestyle. Surely, though, this is for people trying to shave milliseconds in every action they do in order to save time within their horrendously busy lifestyle - is anyone really that busy?
Anyway, thought I would forewarn you of the future if you did not already know....
