5 Technologies to Watch in your Next Smartphone

5. NFC Technology is meant to Replace Cash and Credit Cards:

Smartphones will replace cash, credit and debit cards by 2020, states a study done by Pew Research Center’s Internet & American Life Project and Elon University’s Imagining the Internet Center. This means by the end of this decade you will be paying your grocery and restaurant bills by swiping your smartphones and this seems true with all those smartphone which comes with NFC (Near Field Communication) technology and Google Wallet that converts your smartphone into your wallet.

Pros: It a relieving idea to get rid of all those credit and debit cards which sits in your wallet and confuses you a lot. Not have to carry cash around and paying for public transportation with your smartphone sounds exciting.

Cons: The security concerns in the mind of users and the adoption of financial institutions to this kind of money transaction will restrict this technology a bit. The lack of infrastructure is also a hindering factor.  Developed nations will have the wide usage of this technology by the end on this decade, so it’s just better to be updated and ready for the change.