Thin Phones to Replace Fat Wallets
Replacing your wallet with your smartphone has been one of those promises of technology, like flying cars or nuclear fusion, that always seems to be just around the corner but never quite lifts off. Google wallet has made in-roads, Apple’s Passbook shows promise, and Square, PayPal and all the credit card companies have an approach that they’re hoping will catch fire with consumers. It will probably happen sooner or later (although here’s why it might not).
The latest thrust may come from the direction of public transportation, as Wired tells us that this sector is poised for adoption of wholly mobile ticketing. The study they quote, and their endorsement of the notion (“A new report shows the smartphone is poised to replace the ticket as the preferred method of paying for public transit. To which we say, ‘duh.’”), implies that market friction impeding adoption will be less than it is in the realm of mobile payments. Fond as I am of my sleek leather travel wallet, I’d sure be happy to have one less thing to keep track of while going through security.
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