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Credit Card Technology: 2013 And Beyond

Of course, you have a point. But, chances are, when you first read about cellphones you told yourself much the same things. Now look at you.

You can expect credit card companies and other interested parties to launch very soon campaigns to seduce you into becoming an early adopter of mobile payments technologies -- if, that is, you aren't already. That NCR press release included forecasts from Gartner, a global market research and analysis company, about just how quickly mobile payments are growing: worldwide, they're expected to process transactions worth $171.5 billion in 2012, up 61.9 percent on 2011. These same analysts predict they'll top $617 billion in 2016, by which time there could be 448 million users. Yes, we're talking more predictions. But those in the know regard Gartner as considerably more credible than the Mayans.

Go with the flow?

Back in the 11th century, King Cnut (or Canute, if you prefer) dragged his court down to an English beach, where he commanded the incoming tide to recede. Of course, he knew it wouldn't, and the exercise was designed to demonstrate to his hangers-on that he did not have limitless power. You may have sympathy with His Majesty as you watch wave after wave of new technologies crashing onto the shifting sands of your life. Indeed, you may find yourself deciding to go with the flow when it comes to mobile payments, because credit card companies are likely to love them.

That's because they could well assume that consumers will latch onto these, just as they have to mobile banking. Remember when only a tiny minority would entrust their financial affairs to the web? That time's long gone, and now it's mobile banking that's becoming commonplace.

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