The End of the Credit Card?

The End of the Credit Card?:

Paying for stuff with your phone sounds awesome until you stop to think about it. It seems like every major tech company, including Google, is touting the fact that we’ll soon be able to buy anything and everything by waving our phones against a pay pad. Wait a second: Why is this supposed to be any better than pulling out a credit card? It’s not faster, it’s not more convenient, and it’s not any safer. Plus, many phones—and most stores’ pay pads—don’t yet have the necessary “near-field communication” chips required for these sorts of transactions, so the whole idea is kind of a fantasy anyway.