Would you replace your wallet with a Smartphone?
USA Today had an interesting article today that discusses replacing your wallet with a smartphone. Law firms and their clients are embracing technology; iPods, iPads and other devices have proven that. Potential law firm clients are increasingly using smartphones to seek law firm information. I, for one, love the idea. Losing one’s wallet is a frightening experience. Unlike a smartphone’s ability to set a password, losing your wallet opens you up for financial loss to the individual who steals or finds your wallet. Additionally, we tend to notice a missing smartphone much more quickly than a missing wallet. Other concerns include the growing use of electronics by thieves to steal credit card information.
American Express, PayPal, Sprint and Verizon Wireless are embracing Smartphone technology. Bank of America, Wells Fargo and Intuit are other names who are involved in developing Smartphone systems. Starbucks is among retailers who already allow payments from smartphones. The customer can check and/or reload balances using the Starbucks digital smartphone application.
Google unveiled its mobile test wallet in May 2011 with partners that include Citi, MasterCard, First Data, Sprint, Macy’s, RadioShack, Subway and others.
Would you exchange your wallet for a smartphone? We invite your comments.
