End of Credit Cards by 2015?

[The QUEEN]

Credit cards may soon be as outdated as vinyl records.

[The QUEEN]

You can already use your iPhone, Droid or BlackBerry to buy a hotdog at the ballgame, buy your Starbucks latté, or give a friend a few bucks by Bumping phones. But by the end of the year you may not even think twice about reaching for your phone to pay at the register instead of fumbling for your credit card.

[The QUEEN]

While companies have been experimenting with contactless mobile payments for years, 2011 is expected to be the year the technology really takes off. That's because millions of phones capable of making contactless payments are expected to be shipped out in 2011.

[The QUEEN]

As a result, this pay-by-phone market is forecast to make up $22 billion in transactions by 2015, up from "practically none" last year, according to research firm Aite Group.

[The QUEEN]

Companies including Visa, MasterCard, Google, Bank of America, Citi and U.S. Bank are all testing contactless mobile payments, and many expect to roll out mobile wallets this year.

[Bhargav2010]

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[perk]

kastam baa andaru smartphones maintain cheyatam is not that easy...

[The QUEEN]

"Mobile payment is going to get really interesting and is going to see a lot of activity in 2011," said George Peabody, director of emerging technologies at Mercator Advisory Group. "We're going to start seeing more and more people leaving their homes without their wallets."

But that d[color=green]oesn't mean it's going to happen overnight,[/color] said Jane Cloninger, director at Edgar Dunn & Co., a consulting firm specializing in financial services and payments.

[D9]

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[The QUEEN]

Mobile payments are expected to hit [color=green]$214 billion by 2015[/color]. Transactions made by scanning a mobile phone at the register are forecast to reach[color=purple] $22 billion -- up from "practically none" last year[/color].