Mobile phones 'could replace wallets in four years'
Mobile phones could eliminate the need for people to carry wallets and purses by the year 2013, a new report has estimated.
According to the study, carried out by Informa Telecoms and Media, handsets enabled with Near Field Communication (NFC) technology will allow users to pay bills, buy tickets, pay for food and display information that would usually be contained in a membership card.
John Darnbroughm, spokesperson for Informa, said that more than ten per cent of mobile phones should be NFC-enabled by 2013 and that payment using this method will be commonplace for as many as 180 million people.
"There is a strong appetite for these new business opportunities," he added.
According to a recent poll carried out by supplier Ingenico, more than 40 per cent of British consumers say they would use their phone to make payments and that and ease of use would be their main reason for doing so.
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