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The use of debit and credit cards could be in decline within eight years, according to the UK Payments Council.
It is predicting that more and more of us will use mobile phones to make payments and that by 2021, fewer of us will be using plastic. "The 2000s were the decade of the debit card," said Adrian Kamellard, chief executive of the Payments Council. "The 2010s are likely to be the decade of the mobile phone." Payment by mobile phone is still at an embryonic stage, but the technology is being developed so that most bank account holders will be able to pay by phone within a year or so. Barclays launched a scheme called "pingit" last year, which enables people to pay another person via their phone.........Read more here
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* flawed security
* handset upgrades (smart phones data retrieval)
* People are still prone to leaving mobiles in full view than their wallets
* there are more mobiles stolen than wallets
* too much identity on mobiles for fraudsters to make a 'new you'? unless you want a clone of you that your unaware of?
to justify a few 'Cons' in WHY its NOT and WONT be full proof