Arment Dietrich

The End of Credit Cards is Near!

By: Arment Dietrich | January 27, 2011 | 
32

If you have not heard, “the end of credit cards is near!” in some form or another during the past few days, then crawl out from under your rock and read the news, subscribe to some RSS feeds or newsletters, or watch some TV.

We predicted mobile payments here on Spin Sucks last October, then talked about it as a growth area for 2011 earlier this month, and then CNN Money validated our prediction when they announced it earlier this week.  Since then, I’ve been thinking…

Does it excite me that I don’t have to carry around a chunky wallet with my cards in it?  Or does it freak me out knowing that even more of my life is going to be held in one tiny, losable, crashable, breakable, device?  What do think?

[poll id=”6″]

I thought the Chase blink feature was amazing and I still get excited when I just “bump” instead of “slide.”

According to a report from Aite Group, “this pay-by-phone market is forecast to make up $22 billion in transactions by 2015, up from ‘practically none’ last year.”

Maybe my fiancé won’t leave his phone in a cab again.  And maybe my friends will be more careful with their phones near any type of water source.  Maybe when my boss runs to the bathroom, I could swipe her phone real quick, pick up the tab, and order me an extra doggy bag?  Oh the possibilities…

Take the poll. Let us know if you think the end of credit cards is near!

Spin Sucks in Your Inbox

Leave a Reply

32 Comments on "The End of Credit Cards is Near!"

avatar

Sort by:   newest | oldest
Griddy
5 years 3 months ago
Hey Molli, What at interesting topic this is. I’ve been looking at the poll deciding what box to tick and I think the reason for why I’m still hesitant is that I believe it depends where in the world you live. I think the idea of being able to pay by phone is absolutely insane (in a great way lol). Incredible how far we’ve come along – and this is an exciting development. I wonder how long it will take for consumers to start shifting towards this trend when it happens. Habits are sometimes difficult to change and people sometimes… Read more »
Griddy
5 years 3 months ago
Hey Molli, What at interesting topic this is. I’ve been looking at the poll deciding what box to tick and I think the reason for why I’m still hesitant is that I believe it depends where in the world you live. I think the idea of being able to pay by phone is absolutely insane (in a great way lol). Incredible how far we’ve come along – and this is an exciting development. I wonder how long it will take for consumers to start shifting towards this trend when it happens. Habits are sometimes difficult to change and people sometimes… Read more »
Griddy
5 years 3 months ago
Hey Molli, What at interesting topic this is. I’ve been looking at the poll deciding what box to tick and I think the reason for why I’m still hesitant is that I believe it depends where in the world you live. I think the idea of being able to pay by phone is absolutely insane (in a great way lol). Incredible how far we’ve come along – and this is an exciting development. I wonder how long it will take for consumers to start shifting towards this trend when it happens. Habits are sometimes difficult to change and people sometimes… Read more »
ginidietrich
ginidietrich
5 years 3 months ago

WAIT! I’m your boss! Note to self: Never leave my phone in Molli’s reach. Because I LOVE THIS! I cannot wait to only have to carry my phone around! And I have it set up with an instant shut down if I lose it. All I do is call AT&T, enter a special pin, and it’s wiped.

ginidietrich
ginidietrich
5 years 3 months ago

WAIT! I’m your boss! Note to self: Never leave my phone in Molli’s reach. Because I LOVE THIS! I cannot wait to only have to carry my phone around! And I have it set up with an instant shut down if I lose it. All I do is call AT&T, enter a special pin, and it’s wiped.

ginidietrich
ginidietrich
5 years 3 months ago

WAIT! I’m your boss! Note to self: Never leave my phone in Molli’s reach. Because I LOVE THIS! I cannot wait to only have to carry my phone around! And I have it set up with an instant shut down if I lose it. All I do is call AT&T, enter a special pin, and it’s wiped.

Griddy
5 years 3 months ago

@ginidietrich How did I get here faster than you? LOL

Griddy
5 years 3 months ago

@ginidietrich How did I get here faster than you? LOL

Griddy
5 years 3 months ago

@ginidietrich How did I get here faster than you? LOL

Griddy
5 years 3 months ago

@ginidietrich Ah, I know! You were shy to be the first to comment ;).

Griddy
5 years 3 months ago

@ginidietrich Ah, I know! You were shy to be the first to comment ;).

Griddy
5 years 3 months ago

@ginidietrich Ah, I know! You were shy to be the first to comment ;).

HowieSPM
HowieSPM
5 years 3 months ago
Can’t get the voting thing to work for me. I will always want at least one card. Sometimes a phone is too bulky especially at the beach or exercising. I also wonder how hard/easy it is to switch which card you use on your phone as well as is it easier for people to steal your info. Remember someone hacked Paris Hillton’s Blackberry posting all her friends numbers online. I have been told over the cell network predators can grab from the airways. Curious if that is still true. I can imagine someone with wifi and a laptop drinking a… Read more »
HowieSPM
HowieSPM
5 years 3 months ago
Can’t get the voting thing to work for me. I will always want at least one card. Sometimes a phone is too bulky especially at the beach or exercising. I also wonder how hard/easy it is to switch which card you use on your phone as well as is it easier for people to steal your info. Remember someone hacked Paris Hillton’s Blackberry posting all her friends numbers online. I have been told over the cell network predators can grab from the airways. Curious if that is still true. I can imagine someone with wifi and a laptop drinking a… Read more »
HowieSPM
HowieSPM
5 years 3 months ago
Can’t get the voting thing to work for me. I will always want at least one card. Sometimes a phone is too bulky especially at the beach or exercising. I also wonder how hard/easy it is to switch which card you use on your phone as well as is it easier for people to steal your info. Remember someone hacked Paris Hillton’s Blackberry posting all her friends numbers online. I have been told over the cell network predators can grab from the airways. Curious if that is still true. I can imagine someone with wifi and a laptop drinking a… Read more »
Griddy
5 years 3 months ago
@HowieSPM @ginidietrich Hey Chief Alien,Actually, I wasn’t able to vote either Howie – nothing happens when I click on the Vote box. In my case – I’m rather limited to buying online. I don’t have a PayPal account and the country I currently reside in is not on their list of countries :(. You have no idea how limiting this is for me in everything. It’s pretty annoying. Basically – I very rarely do. Plus the shipping charges (overnight and other) to Beirut are ridiculously expensive. So if it’s not a significant purchase – the shipping charges could be as… Read more »
Griddy
5 years 3 months ago
@HowieSPM @ginidietrich Hey Chief Alien,Actually, I wasn’t able to vote either Howie – nothing happens when I click on the Vote box. In my case – I’m rather limited to buying online. I don’t have a PayPal account and the country I currently reside in is not on their list of countries :(. You have no idea how limiting this is for me in everything. It’s pretty annoying. Basically – I very rarely do. Plus the shipping charges (overnight and other) to Beirut are ridiculously expensive. So if it’s not a significant purchase – the shipping charges could be as… Read more »
Griddy
5 years 3 months ago
@HowieSPM @ginidietrich Hey Chief Alien,Actually, I wasn’t able to vote either Howie – nothing happens when I click on the Vote box. In my case – I’m rather limited to buying online. I don’t have a PayPal account and the country I currently reside in is not on their list of countries :(. You have no idea how limiting this is for me in everything. It’s pretty annoying. Basically – I very rarely do. Plus the shipping charges (overnight and other) to Beirut are ridiculously expensive. So if it’s not a significant purchase – the shipping charges could be as… Read more »
ginidietrich (Gini Dietrich)
5 years 3 months ago

Poll: Paying with your phone from @mollimegasko http://bit.ly/gyG50w

ginidietrich (Gini Dietrich)
5 years 3 months ago

Mobile payments are here from @mollimegasko http://bit.ly/gyG50w

ginidietrich (Gini Dietrich)
5 years 3 months ago

The end of credit cards is near. Take the poll from @mollimegasko http://bit.ly/gyG50w

SusanMazza (Susan Mazza)
5 years 3 months ago

.RT @ginidietrich: The end of credit cards is near. Take the poll from @mollimegasko http://bit.ly/gyG50w

R_Donatelli (Rob Donatelli)
5 years 3 months ago

No more credit cards? The end of credit cards is near. Take the poll from @mollimegasko http://bit.ly/gyG50w

jftirey (Jason Frank Tirey)
5 years 3 months ago

RT @SusanMazza: .RT @ginidietrich: The end of credit cards is near. Take the poll from @mollimegasko http://bit.ly/gyG50w

Lori
5 years 3 months ago

Hi Molli,
It does scare me to think of all my “stuff” in one place like that! Makes me think of The Handmaiden’s Tale where they have a chip beneath their skin with all their banking info on it. When we start to worry about losing the source of all our info, will they scare us into that – for the sake of security and convenience? I don’t mind carrying a wallet with cards in it – I still use cash too! Besides I just bought this beautiful wallet when I was in Greece recently….

Lori
5 years 3 months ago

Hi Molli,
It does scare me to think of all my “stuff” in one place like that! Makes me think of The Handmaiden’s Tale where they have a chip beneath their skin with all their banking info on it. When we start to worry about losing the source of all our info, will they scare us into that – for the sake of security and convenience? I don’t mind carrying a wallet with cards in it – I still use cash too! Besides I just bought this beautiful wallet when I was in Greece recently….

Lori
5 years 3 months ago

Hi Molli,
It does scare me to think of all my “stuff” in one place like that! Makes me think of The Handmaiden’s Tale where they have a chip beneath their skin with all their banking info on it. When we start to worry about losing the source of all our info, will they scare us into that – for the sake of security and convenience? I don’t mind carrying a wallet with cards in it – I still use cash too! Besides I just bought this beautiful wallet when I was in Greece recently….

ansinanser (Ryan Turner)
5 years 3 months ago

The end of credit cards is near. Take the poll from @mollimegasko http://bit.ly/gyG50w RT @ginidietrich

duaneabrodt (Duane Brodt)
5 years 3 months ago

The end of credit cards is near: http://bit.ly/gyG50w. Now, can someone put an end to neck ties?

1111111111111111555
1111111111111111555
5 years 3 months ago

It is not the end of Credit Cards, it is the end of having to always carry your Credit Card, you will still get that Credit Card in the mail, and then enter the Credit Card numbers on your phone.

Pretty hard to make a Credit Card payment over the phone (landline) by swiping your cell phone, chances are you will be able to look at your cell phone, and read off your Credit Card numbers…

Credit Cards are not going away they are adding another payment method of swiping the CREDIT CARD

1111111111111111555
1111111111111111555
5 years 3 months ago

It is not the end of Credit Cards, it is the end of having to always carry your Credit Card, you will still get that Credit Card in the mail, and then enter the Credit Card numbers on your phone.

Pretty hard to make a Credit Card payment over the phone (landline) by swiping your cell phone, chances are you will be able to look at your cell phone, and read off your Credit Card numbers…

Credit Cards are not going away they are adding another payment method of swiping the CREDIT CARD

1111111111111111555
1111111111111111555
5 years 3 months ago

It is not the end of Credit Cards, it is the end of having to always carry your Credit Card, you will still get that Credit Card in the mail, and then enter the Credit Card numbers on your phone.

Pretty hard to make a Credit Card payment over the phone (landline) by swiping your cell phone, chances are you will be able to look at your cell phone, and read off your Credit Card numbers…

Credit Cards are not going away they are adding another payment method of swiping the CREDIT CARD

wpDiscuz
[postmatic_subscribe_widget]