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Say Good-Bye to the Wallet, and Say Hello to the Smart Phone

Finally, the time will come very soon when Americans can use smart phones to pay for almost everything. According to this CNN News video, smart phone users can download a free app that allows them to make payments with their phones. For now, this app only works on the Android system and is only available in certain Nexus phones. The developer is urging more merchants to adopt this app and will soon introduce this concept in big markets like NYC and San Francisco.

Using smart phones as a means of payments works great for those who enjoy city life. When people go out for parties at night, they no longer need to carry anything else but their cell phones with them. How cool is that? This app, however, also raises privacy and security concerns. As a business owner, what are your thoughts of adopting this mobile trend? As a consumer, how would you like or dislike the ideas?

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References:
Picture was downloaded from RochNew.com.

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