10 Most Amazing Technologies Set To Rule The World
#7 Mobile Payments
With boom in Smartphone market, in near future post of the population in the world will own a handset. Other than its multimedia and connectivity options, the geek gadgets are on the way to become tool for making payments. With NFC (near field communication and Android Beam) the concept is already made its way into mainstream markets. It’s already big in Japan with 55 penetration, as well as emerging markets where cell phones rule. In developed markets, it's likely to be limited to transit and retail transactions.
With about six billion phone subscriptions globally, according to Canada-based IE Market Research Corporation, mobile payments will see a $1 trillion of transaction value by 2016, opening up for new mode of payment.