A little while ago I was listening to the finance radio show Marketplace on NPR, when they featured a story about several new programs allowing consumers to use smart phones to pay for everyday purchases like coffee and gas.
Because many people have increasingly began using smart phones for a myriad of things such as banking, accessing social media networks, keeping track of budgets, paying bills, and shopping, many in the technology field think it’s just a matter of time before our phones will replace our wallets, cash, and credit cards.
Recently, Google announced it will allow customers on the Andriod platform to use their phones to make payments, and insiders expect Apple, Microsoft, and Nokia to follow suit.
But with hackers still able to steal our information online, are digital wallets really poised to replace traditional methods of paying for things?
Although I’m pretty quick to embrace technology, using my phone to pay for everything seems a bit scary to me.