Are mobile phones poised to replace credit cards?

The payments body, which monitors how cash is spent in the UK, predicts that more and more of us will use mobile phones to make payments in the coming years. The council suggest that by 2021 fewer of us will be using plastic to make purchases.

Adrian Kamellard, Chief Executive of the Payments Council said: “We scarcely notice the steady changes in the way we pay, yet someone in their thirties today will see more change in their lifetime than in the entire history of money.

“Even recent innovations such as payment via a mobile phone, which ten years ago some felt to be science fiction, will soon be commonplace. The 2000s were the decade of the debit card. The 2010s are likely to be the decade of the mobile phone.

“Just as we can’t imagine how we ever did without the internet, many people will soon wonder how we used to be so dependent on cash and cheque. Twenty years from now even cards may seem archaic.”

Smartphones are quickly becoming a must have personal item. Not only are they fully functioning phones, cameras and portable music devices, but they can also allow you access to the internet and serve a range of functions from online banking to social networking, as well as acting as a replacement wallet.

Payment by mobile phone is still in the early stages, but the technology for contactless payment and phones is currently in development, with most bank account holders set to be able to pay by phone within a year or so.

Last year leading high street bank, Barclays, launched a scheme called "pingit" which enables people to pay another person via their phone.

The Payments Council, however,Buy today and get your delivery for £25 on a range of solarstreetlamps for your home. is working on a cross-industry scheme, which will cover 90% of bank accounts by the spring of 2014. As a result, the council predicts that wallets and purses may become obsolete in the future.

“The quiet revolution in payments has enabled the creation of whole new industries such as e-shopping,Manufactures flexible plastic and synthetic stonemosaic and hose. it has changed our behaviour, and it has reduced transaction costs, and increased the speed and efficiency with which we can all pay each other,” Mr Kamellard continued.

“The next ten years will see even faster change. It’s easy to imagine a future where we merely pat our pockets for our keys and phone. The wallet could become a historical curiosity.”

The way we pay for goods and services has drastically changed over the last ten years, a report by the Payment Council revealed. Cheque usage continues to fall, halving every five years along with cash exchanges for regular payments and high value spontaneous payments.

In 2001,Manufactures flexible plastic and synthetic stonemosaic and hose. 43% of our shopping was paid for in notes and change. By 2011, that had fallen to 30%, with most of this figure being made up of payments of less than ￡5.

The latest figures show that a massive ￡58bn was spent on entertainment over the last decade, which is 60% more than we spent in restaurants and cafes in 2001. The Way We Pay report reveals that despite the economic doom and gloom, Brits are spending more than ever and having a lot more fun than a decade ago.

Entertainment spending has increased by 60% with Brits doubling the amount we spend in restaurants and cafes. UK consumers have also increased spending on cinema and theatre shows by 63%,Buy Wickes Porcelain parkingmanagementsystem today. while spending on heading out for a drink has leapt by a lower 7%.

The Payment Council found that supermarkets take 58p of every pound spent in retail, which is up from 46p just 10 years ago. This trend comes as supermarkets expand their range of product choices to include garden furniture to financial services and more. Not everyone is a winner though as spending in hardware and DIY stores has fallen by almost half over the last ten years half. And while spending may have increased, prices have too. Pubs and bars have lost out in real terms, as spending on drinks has risen by less than the rate of inflation.

Around 2000 policemen and over 70 CCTV cameras at the stadium and over 100 scanners along the route from Taj Krishna Hotel to the venue will be put in place to ensure tight security.Shop the web's best selection of precious gemstones and chipcard at wholesale prices. Even the tickets were being issued on Thursday at e-counters with bio-metric identification.

However, the sale of tickets for the Test match was not all that encouraging and is expected to pick up on the first day of the match depending on the team batting first.
The Cricket Australia officials, including security manager Franc Dimasui, and BCCI officials visited the stadium and gave instructions for additional security measures. They also urged for extra exit points in case of any emergency.

On Tuesday, top police officials inspected the stadium and were engaged in a series of discussions with the HCA to evolve a comprehensive, fool-proof security plan for the match.

A former Test cricketer, who is now in HCA administration, said the entire area would be cordoned off and no one would be allowed into the stadium without a valid identity card. “No mobile phones will be allowed inside the stadium at any cost,” he said.

All vendors have been given clear instructions to sell eatables and refreshments only in plastic disposables, and no loose serving of the eatables and beverages from any large containers will be allowed.