MobilePay May Be The Death Of The Wallet. Yes, For Real This Time.

It's unlikely to be faster. I can pay with cash or credit card in much less time than my iPhone takes to get a GPS fix &#38; 3G connection indoors.<p>Also, credit cards are very reliable. I've had mine fail (mag stripe wear, etc.) maybe 3 times in 20 years, but even then it's still usable the old-fashioned way. My iPhone fails (low battery, weak signal) at least weekly. Being occasionally unable to pay is a Really Bad Experience that users won't forgive.<p>Slower and less reliable. I predict it won't take off.

&#62;&#62;(but don’t worry, it isn’t stored on your device, it’s securely stored in the cloud)<p>Wow, I thought the decentralized way was better, since it makes it very hard for malicious people to get to a significant amount of info, and keeps the data in your control. It's interesting how the notion of security is being flipped over completely.

I love the implementation . . . I feel like this is a much more likely winner than the solutions that require you to house your phone in some sort of RFID-enabled case.<p>Not sure how they are getting away with charging merchants only 1% + 30 cents, but it's a great deal for merchants, for sure.

Why not a card, then, that can talk to a phone app? Is bluetooth too power hungry to fit on a device approaching a credit card in thickness?

What do the merchants install?<p>Surely they don't trust us to simply show them the confirmation page on our iPhones?

<i>I absolutely hate carrying around both my phone and my wallet in my pocket. What if I could just carry around my phone and my driver’s license?</i><p>Why stop at eliminating the wallet? I expect someday -- perhaps quite soon -- some state will allow a mobile with the right app(s) to serve as a Driver's License.<p>And why not? It could contain digitally-signed info which includes the photo and everything else appearing on traditional cards. For better or worse, police could even check it at a distance.