Hoofbite;4724125 said:
A while back I got a email from a friend that had an article about phones in Japan that basically replaced the wallet. They had something built in to where they could act as a credit card and payments would be made by moving the phone into a proximity of a scanner and accepting the payment on the screen.
I was kind of hoping for that. I wouldn't mind having a phone that just replaced my wallet. Scan my ID and cards in and have one less thing in my pocket.
No, you won't be able to do that with iPhone5.
You can do it with several of the Androids, including the one I have Galaxy S3. More and more retailers are signing up for it and all the credit card companies, the major banks, Google and Ebay are working on versions of it. I think there are about 5 different ones out there right now although I believe the main ones are spreaheaded by Ebay and Google.
I think the idea is that eventually you can have your credit card info, online coupons and groupon type deals on it so it'll all be integrated. This whole thing is in its infancy right now but the idea is someday you may no longer need to carry any credit cards. You can even pay people cash now with your mobile phones with current technology.
We are definitely moving rapidly to a near cashless society.