Nowadays, we
find ourselves carrying cash less and less because you can just as easily make
your purchase with cards. But do you ever feel there are too many cards in your
wallet, or it takes you forever at checkout counter to find the right card?
Perhaps it’s time to swap again, and this time, for something you have always
been carry around-your smartphone!
There are
different apps in your phone that can hold your payment and card information.
Google wallet and Iphone’s passbook are two of the most popular ones by now.
All you have to do with them is just scan your smartphone or tap it to make the
payment.
However, payments
in the real world are more complicated than online. There was someone named Steven Bertoni, he did an experiment
– left his wallet at home for one day to see how far he could get with a
smartphone. As a result, he found out mobile payments offer some pretty cool
perks, but there were very few options to choose from and it had no access to
public transportation or pharmacies. The gaps and shortcomings in mobile
payment system are still huge. So
basically Steven suggested to do not lose your wallet just yet.
Do you agree
with him? Tell us what do you think.
Purdy, K. (2011, 03 15). How to replace your wallet with
your phone. Retrieved from
http://lifehacker.com/5782017/replace-your-wallet-with-your-phone/all
Bertoni, S. (2014, 03 28). Mobile payment experiment.
Retrieved from http://www.forbes.com/sites/stevenbertoni/2014/03/28/mobile-payment-experiment-can-an-iphone-replace-your-wallet/
I agree with Stephen's experiment and statement. The infrastructure is not up to speed with compatibility to our smart phones. I believe that one day we will be able to have the capability to replace our wallets with our smart phones. The technological advances have been incredible ever since the emergence of the iPhone. Who knows what will be next!?
ReplyDeleteWilliam Elwood
While I agree that it is convenient to pay with your phone, I do not see this taking over the wallet. I think that I have a hard time trusting software enough with my personal information, I definitely do not trust it with my money. I think that this concept would be very hard for the generations older than us to accept. I know that my dad just recently starting to get into the iPhone, I think that using this as your prime payment method would be unrealistic. I agree with William that anything could be possible with today and the improving technology.
ReplyDeleteYes. I totally agree with you. Even though technology has been advanced, but it is unnecessary to replace someone's wallet with the iPhone. I still prefer to swop the card actually. And it feels safer, since information can be tracked by many viruses. Also, if one decides to replace the wallet, he/ she has to make sure that there is data plan and enough battery.
DeleteI think this is something that is extremely convenient especially because I never go anywhere without my phone. But I personally just dont feel like I can trust my phone with everything. I do keep gift cards and rewards cards on my phone just to lower the amount of cards Im carrying around but as for credit cards I have not ventured that far yet.
ReplyDeleteIt surprises me that it has become so popular to pay for things from your smartphone, just because I wouldn't think people would trust it. I'm not saying you shouldn't put anything on your phone (I think what Hannah does is as far as I would go with it), but more private information, information that can change your life if it were tampered with, I think it has no reason to be on your phone.
ReplyDeleteI read a finance article today about the increasing popularity of digital payments through smartphones. They are becoming so popular that it is actually hurting the popularity of credit card payments. Today in particular the stock prices of Master Card and Visa declined because of the increasing popularity. I don't think that payments on smartphones has enough popularity to wipe out credit cards by any means but it would definitely improve convenience on public transportation.
ReplyDeleteMartin English
Is it potentially more dangerous for you to lose your phone if you store your financial information on it as well? It is one thing to lose a wallet, but a wallet doesn't have the breadth of information stored in it that a phone potentially could.
ReplyDeleteI don't think I will ever replace my wallet with my phone. There are many problems that could arise with relying on your phone as a payment method. The biggest issue is that iPhones die very quickly, my phone hardly ever lasts an entire day without me having to charge it. That could cause problems because if you are out somewhere and need to pay for something and only have your phone on you, you are out of luck if your phone is dead. Another problem with this is having your phone stolen. If your phone is stolen, not only is all your personal information on it but all your banking information is on it as well.
ReplyDeleteYou are correct. With nowadays's fast information transferring, it is easy to lose our identity. I do feel it's kind of risky to use iPhone for payments.
DeleteWith the advancement in technology it's becoming convenient to carry a lot of things in cellphones, but it's too risky. I myself use cellphone for many things, I wouldn't be using for otherwise. It's just for the convenience. Losing it would be the biggest downfall as it puts out all your personal information.
ReplyDeleteI think it's a very cool idea to just use your phone to make all your daily purchases. There is still no convenient technology though that can replace your credit or debit cards yet. But I think with how fast technology is advancing, people would eventually end up using their phones to make all their purchases. A lot of retailers already have NFC readers to pay directly through your phone and it won't be long till every store start accepts purchases through phones once it gets cheaper and very common.
ReplyDeleteI definitely agree with Steven's experiment. It is very convenient for people to have their "credit cards" stored on their smartphones. For example, I have a Starbucks Rewards card and I do not even have to use the actual card to make my purchase at Starbucks. My card is already stored on the app so the store can use my smartphone for my purchases. However, I am sure there are limitations to using your smartphone for your credit card. I will not be losing my wallet anytime soon either.
ReplyDeleteI think it is a very interesting idea for smartphones to eventually replace the wallet. People nowadays are constantly looking for ways to make their life more convenient and this appears to be another step towards convenience. I personally would not trust my phone to make these types of payments consistently and would be hesitant to put all my banking information on my phone. I could also see an issue in completely replacing the wallet with a phone is because phones can run out of battery and if this happens and you need to make a payment you are pretty much out of luck.
ReplyDeleteI do feel the same. I can't trust my phone either, since there are too much virus and hackers.
DeleteI think this is an awesome idea, although it seems very risky. Phones are stolen faster these days then wallets because of the money you can get for them. If people had access to your personal funds from stealing your phone you could end up with some serious identity theft. This is worrisome because there is so much information stored in everyone's smart phone. Personally I am not going to ditch the idea of having a wallet and continuing to use it to make my purchases. I honestly don't feel comfortable with making purchases with my phone.
ReplyDeleteSometimes we still need cash on us. Cash is the easiest and most common way to pay for goods. So, I think that I would not replace my wallet too.
DeleteThis is amazing, I just can't replace my wallet with my phone. Each one has its own importance. For the wallet, I need my driving license and my car insurance. I also need my other debit cards and my stores discount card. For the phone, important incalls and outcalls. Also, 3G service and international hotline.
ReplyDeleteMohammed Bin Ahmed