Pay-by-phone? I don’t think I will.
It said that we will be paying for just about everything with our subsidized smart phones in the near future. I think the advent of the near-field communication (NFC) payment system is fantastic. I have a real problem with the requirements though. Such as the possession of a smart phone and a monthly data plan. Not all of us will have a smart phone or want one. When the day comes when all purchases are made by bumping or swiping our communicator will the telecommunication monopolies subsidize the required smart phone monthly data plan? How many can actually afford the monthly phone bill now? If the big telcoms want us to use our smart phone (which we may be forced to obtain) to pay for our necessities, let alone to make a call, they will have to subsidize the phone bills for many of those that can not afford the phone they don’t want and certainly the compulsory data plans. To do this will AT&T, Sprint, Verizon, etc, have to raise the price of the data plans of those who actually use them? Smart phones are nice but that doesn’t mean the telecoms, or the government in their regulation of said phones, is smart. They are just greedy. But isn’t that what big business is all about? IMHO