Love This headline: The Death of Credit Cards

What? According to Motley Fool’s interesting presentation, the next game changer in payment systems is a replacement of the credit and debit card you carry in your wallet. They start with the advent of the Diner’s Club Card back in the early 1950’s. The ability to carry an electronic wallet on your phone is already available like Google’s Wallet.

Three little letters, NFC, Near Field Communication, according to Barry McCarthy at First Data, is technology that will ultimately eliminate our dependence on credit and debit cards. It will be the same thing for any of our common things that involve an exchange that can be done with two communication pieces in close proximity.

Already 100 million people have used this technology to pay for tickets and other simple merchant transactions. In addition, 12% of US Smartphone users have already used this technology.

According to Motley Fool, it’s only a matter of time that NFC will disrupt the payments industry and create a new one.

So, what will you do ensure your organization can embrace this new technology?

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