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Contactless payments 'are on the cards'

By Sarah Engle, Fri 13 Jun 2008 - Published in Credit Cards

As people use debit and credit cards as well as electronic payment systems more and more, we could soon be using our mobile phones to pay for things, according to Apacs.

Jemma Smith from the UK trade association for payments said: "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."

She added that there is "a whole generation" who are "card confident" and who will be happy to embrace contactless payments.

Juniper Research predicts that plans from banks and phone companies will result in over 612 million mobile phone users worldwide generating over $587 billion (£302 billion) in financial transactions by 2011.

Near Field Communication (NFC) is a new, short-range wireless connectivity technology, the NFC Forum reports.

It claims that in the future products with built-in NFC will dramatically simplify the way consumer devices interact with one another, allowing people to receive and share information and make fast and secure payments.