PayPal has predicted that it may be only four years before consumers don’t need to use their physical wallets any more.
In a blog post, president Scott Thompson said that digital currency will become more accepted at major retailers.
“As the trend toward digital currency continues to gain momentum, we are focused on delivering solutions that are not just new and different, but better than what is currently the norm today,” he said in the blog post.
“We believe that by 2015 digital currency will be accepted everywhere in the US – from your local corner store to Walmart. We will no longer need to carry a wallet.”
More companies, including Google with its Google Wallet program, are adopting mobile commerce.
Just recently ANZ and Visa completed a trial with iPhones in Melbourne to determine if users would adopt NFC, although the former has said it will adopt a “wait and see” approach to rolling a mobile payments scheme.
ABOUT THE AUTHOR
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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