Those who trade in mobiles and switch to a device that is suitable for making contactless payments will be at the forefront of a predicted revolution in the way phones are used.
Mike Hawkes, chairman of the Mobile Data Association, said he expects many models to feature a chip enabling such payments over time.
He noted that the technology could be a good way for businesses to encourage people to make impulse purchases, as coughing up for them will be so simple.
“We'll probably see the use of the collected data, looking into GPS locations and transactions, to get far more targeted advertising,” Mr Hawkes explained.
He added that there could also be a rise in advertising opportunities associated with the equipment used in contactless payment transactions.
Orange and Barclaycard recently revealed they are behind the first contactless payment system to hit the UK, which is known as Quick Tap.
Posted by Samantha Green