Article in Mobile Future category.

The Phone Companies Will Buy The Credit Card Companies

Or they'll build their own. But either way, the mobile payments revolution is coming soon.

Giant Wallet Overflowing with Money and Credit Cards

Because the next big step in mobile, at least in the US, is going to be mobile payments. Companies like Venmo and PayPal are already leading a revolution in the way users pay for things and exchange money. But sooner rather than later, we're going to stop carrying around our wallets and use our phones to pay for everything. And it's only a matter of time before we settle on the right hardware/software combination.

The Japanese call it osaifu keitai (cell-phone wallet). Flash your phone virtually anywhere you go for almost any purchase and it's automatically logged into a digital expense report. Eat frequently at McDonald's? Tap your phone to pay and your all-in-one debit card/receipt tracker/loyalty program may instantly offer you 10% off.

Read the rest at Fast Company: Your Smartphone Will Soon Double as Your Wallet

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