Batanero says, like most of us, he also believes our mobile will substitute sooner or later our wallet.
“When the use of mobile as a payment device is extended –some experts say mobile payment systems are 3-5 years away in terms of full deployment – then it will not be necessary for you to carry all the cards that you have now on your wallet,” he said.
There are other associated developments that an industry professional needs to be aware of as well. For instance, what to expect at the time of checking-out of a hotel.
Regarding the same, Batanero added, “…we have yet to implement the m-wallet when we’re already talking about the cloud-wallet. In the near future, according to the leading payment systems companies – Paypal, Amex, Visa etc. – all your finance information would be available in the cloud. That means, for example, we will no longer need your card, not even your smartphone when you checkout at the hotel. Probably, we will have some sort of fingertip reader, a voice recognition device or something similar to prevent identity fraud and that will be it. That way you do not need to stop by the front desk on your way to the airport unless you want to say goodbye to our friendly staff.”