When it comes time to pay, retailers may scan a bar code on the phone, consumers may tap their device on a reader or they may do nothing at all as the register and phone communicate automatically using near field communication technology. Regardless of the method, consumers are often free to go their way without swiping a card, entering a PIN or signing a receipt.According to a 2012 survey conducted by the Carlisle & Gallagher Consulting Group, 48 percent of respondents expressed interest in mobile wallet technology. Not surprisingly, younger consumers between the ages of 18-50 and those in households earning more than $50,000 a year were most interested in these mobile apps.
Good-bye Plastic, Hello Phone: Mobile Wallets On The Rise
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.