Imagine if you didn’t need a card at all! Get ready to discard those debit cards for good! Developers are in the early stages of creating a way for consumers to pay for their transactions via smartphone.
By the end of the year you’ll hear more talk about various banks setting up mobile payments and remote check capture. Since it’s pretty expensive for banks to develop apps you’ll see many banks go after the popular phones first such as the blackberry and iphone. For now, the rumor is banks will not be charging fees for these services.
However, your phone provider may track on additional charges. Oh, don’t you just love technology. Such a long way from paper checks.
By J.L. Murray