Smart Phones, the New Currency

Last Updated on February 4, 2021

You know that wallet sitting in your back pocket or purse? Get rid of it; you won’t be needing it again. Google is hoping this becomes the norm in the next few years with their newly developed app, the Google Wallet.

The app, (not yet released to the public) would mean you would never have to carry around your wallet. The idea is that a person only needs to leave the house with two items, their phone and their keys, as the person’s entire wallet would be on their phone. The app will not only allow you to pay by phone, but will also include placement for things such as ID, gift cards, hotel room keys, etc.

The app will work like so: you pull your phone out and open the app, and then you tap it on an NFC reader (these are becoming more common in stores and are usually labeled “PayPass,” along with a little radio-wave icon) to log the payment. After you enter a PIN for security, you are on your way.

Some major retailers have teamed up to form the Merchant Customer Exchange, where they are developing an app that will allow the customers to pay for goods through their smart phones. The latest to jump on the pay-by-phone bandwagon is Pay-Pal, as they have produced an app for McDonald’s. France is the first to use it, allowing customers to pay for their McDonald’s food with their phones. If all goes well, it may be in your hands next.

Will Google’s “Google Wallet” be the future? Look out for all these apps as they may save you time and money.

Last Updated on February 4, 2021