Mobile phones could be the next hotbed for electronic payment says the Association of Payment Clearing Services (APACS); on top of being used by the user to make online payments, mobile phones could also act as contactless credit cards.
And this is the next step forward says the entity; A spokeswoman for APACS arguing that Near Field Communication or NFC is going to bring contactless transactions to the masses.
Jemma Smith added that "At some point the scales are going to tip to the point where people really do start using [mobile technology] and then it will potentially revolutionise the way that we pay for things,"
Her claims are backed up by a recent report by Juniper Research which predicts that the average mobile user will generate just under USD 1000 in purchases and other transactions over the next three years although hard cash would still remain the preferred way of paying for goods and services.
More than 90 percent of households now have a mobile phone with newer and more sophisticated models - with cameras, internet access and onboard GPS - being largely embraced by mainstream users.