Cell Phones ~ Our Next Credit Card?

Are you just as amazed as I what smartphones can do with today's technology?  Blows my mind, that's for sure!  My hand actually shook the very first time I gave my credit card information to purchase something online.  Now, years later, I'm doing all of my banking online.  We truly are a trusting breed when it comes to using the latest and greatest gadget to make our lives easier.  Are we too trusting?  In 2011 alone, there were more than 425 million mobile monthly active users alone according to Mobile Marketing Experts.  Cell phone manufacturers are getting serious about integrating Near Field Communication (NFC) technology into smartphone applications for retail transactions.

This technology will actually enable smartphones and other devices to communicate when close together ... as easy as waving your smartphone in front of a retailer’s terminal and your purchase will be automatically deducted from your credit card. Holy Moly!  Right now it hasn't been enthusiastically embraced in the US, but Tokyo passengers are buying train tickets with this new up-and-coming system. And a Swedish company is testing cell phones to use as hotel keys.  The potential is pretty astounding, when you take the time to wrap your brain around it.  The usage could be limitless:  tracking your fillings at your dentist's office, paying for your groceries, checking out the menu at local restaurants, can be copied onto posters, books and signs.

Will it truly be safe?  Experts are saying, "safer than a credit card," because the transmission is very short range and the information is encrypted and password-protected.  I know individuals who have had accounts hacked into that were also encrypted and password-protected.  Let's hope these so-called experts remove all of the bugs and "possibilities" before they offer it to the US market. 


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