Cell phone technology is making everything easier, including shopping. And internet big shots like the president of PayPal, Scott Thompson, are hoping you will buy into the purchasing power of the cell phone. That’s right, now you can use your cell phone to shop. And not just online, in the mall’s stores too. An article in the New York Times presents a new way to use your phone.
If you have internet access to your phone, you could potentially pay for things like rent and medications. You could even take a picture of an item’s bar code and compare the store’s prices to online prices.
Mastercard is running a program through a start-up company that actually allows you to transfer money with a single text. And whomever you’re sending that text to need only open an account to receive your funds.
But what about security? What happens if you lose your phone? I for one would not feel comfortable knowing that if I set my phone down someone could easily run off with my phone and all my money.
A safer option is using your cell phone like a credit card. In Malaysia, people are swiping their phones just like they would their plastic. But isn’t it easier to steal a phone than it is a purse or a wallet?
I don’t know about everyone else, but even if I could use my phone to buy things, I would probably still use cash or plastic.
Do you think using your cell phone to pay for things is a good idea? If you could, would you stop using cash and plastic?