Things your smart phone can replace-7

7. YOUR WALLET

With Near-Field Communication (NFC) hardware coming to smartphones, everyone is expecting a gradual decline in the use of plastic cards and cash. Digital transactions might still be a distant dream for most Indians, but some providers have started scratching the surface. The future is not very far away.For instance, Airtel Money users can recharge their accounts and use their phones to pay electricity or mobile bills. Even a few coffee shops have started accepting such payments. Phones are also replacing swipe machines for small businesses through the use of a special accessory that can be attached to the phone's 3.5mm jack.
MTS had also launched a pilot service, called mPoS (Mobile as Point of Sale), that was designed to help retailers who delivered directly to customers (at their home or office), such as e-commerce firms or food chains. The service allowed users to swipe debit or credit cards on a portable card reader accessory and use an application to process the transaction.